Fermi Inc. Admission of shares of Common Stock and Total Voting Rights

Rhea-AI Summary

Fermi (NASDAQ, LSE: FRMI) has applied for the admission of 12,127,558 new shares of common stock of $0.001 par value to trading on the Main Market of the London Stock Exchange. The shares relate to settlement of certain advisory fees and vesting of restricted stock units that settle in common stock.

Admission is expected at 8:00 a.m. on 29 July 2026. The new shares are fully paid, rank pari passu and are fungible with existing common stock already listed in London. Following Admission, total voting rights will be 640,467,348 common shares with no treasury shares, a figure shareholders may use for FCA disclosure calculations.

Positive

• 12,127,558 shares to be admitted to LSE Main Market on 29 July 2026
• New shares are fully paid, pari passu and fungible with existing LSE-listed stock
• Post-Admission disclosure of 640,467,348 voting shares aids FCA reporting calculations

Negative

• Admission of an additional 12,127,558 shares increases total share count and dilutes existing holdings
• Shares issued to settle advisory fees and RSU vesting add equity-based compensation overhang

News Explained

Fermi has applied—not completed—for admission of 12,127,558 common shares tied to adviser fees and vested restricted stock units, expected on July 29, 2026; if admitted, the larger share count reduces existing holders’ percentage ownership absent offsetting changes.

Market reaction after common stock admission: FRMI -3.95% in the Jul 23 session

-3.95% 2.1x vol

49 alerts

-3.95% Session close to close

+20.8% Peak Tracked

-2.1% Trough Tracked

$4.24B Market Cap

2.1x Rel. Volume

In the Jul 23 session, FRMI declined 3.95%, reflecting a moderate negative market reaction. Argus tracked a peak move of +20.8% during that session. Argus tracked a trough of -2.1% from its starting point during tracking. Our momentum scanner triggered 49 alerts that day, indicating elevated trading interest and price volatility. Trading volume was elevated at 2.1x the daily average, suggesting increased selling activity.

Data tracked by StockTitan Argus on the day of publication.

Market Context

Fermi’s insider record was labeled Net Selling over the analyzed period. Against that platform conte...

Analysis

Fermi’s insider record was labeled Net Selling over the analyzed period. Against that platform context, the admission’s stated voting denominator and settlement purpose are the key details; share issuance and governance disclosures remain relevant risks to monitor.

Key Figures

Shares admitted: 12,127,558 shares Par value: $0.001 per share Admission time: 8:00 a.m. on 29 July 2026 +2 more

5 metrics

Shares admitted 12,127,558 shares Settlement of advisory fees and vesting of restricted stock units

Par value $0.001 per share Common stock

Admission time 8:00 a.m. on 29 July 2026 Expected London Stock Exchange admission

Total voting shares 640,467,348 shares Following admission

Treasury shares 0 shares Following admission

Historical Context

5 past events · Latest: Jul 21 (Positive)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Jul 21	Turbine arrival	Positive	-1.1%	Three Siemens turbines arrived to support Project Matador's phase-two power buildout.
Jul 20	Earnings call scheduling	Neutral	+8.7%	The company scheduled its second-quarter 2026 earnings release and conference call.
Jul 15	Convertible notes offering	Negative	-7.3%	Fermi completed an upsized convertible notes offering to strengthen liquidity.
Jul 13	Board resignation	Negative	-4.3%	Former Fermi CFO Miles Everson resigned from the company's board.
Jul 09	Convertible notes pricing	Negative	-10.0%	Fermi priced an upsized convertible senior notes offering with capped calls.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Recent history showed negative reactions to financing and governance announcements while operational and scheduling news diverged from their stated tone.

Key Terms

lei, isin, restricted stock units, pari-passu

4 terms

lei regulatory

"Fermi Inc. (NASDAQ and LSE: FRMI) (LEI: 529900TSHBYBCFMYZ228)"

A Legal Entity Identifier (LEI) is a unique 20-character code assigned to a company or organization that participates in financial markets, like a corporate passport number. It helps investors and regulators unambiguously identify counterparties across databases and transactions, reducing confusion much like using a vehicle identification number to track a car’s history; clearer identification improves transparency, risk monitoring, and regulatory reporting.

View in glossary

isin financial

"Common Stock (ISIN: US3149111086)"

A 12-character International Securities Identification Number (ISIN) is a unique code that acts like a passport for a specific stock, bond or other tradable security so it can be identified worldwide. Investors and systems use it to ensure they are buying, selling and tracking the exact same instrument across exchanges and data feeds, which prevents costly mix-ups and makes portfolio reporting, settlement and regulatory checks simpler and more reliable.

View in glossary

restricted stock units financial

"vesting of restricted stock units that settle in Common Stock"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

pari-passu financial

"rank pari-passu in all respects with the Company's shares"

A pari-passu clause means two or more investors, creditors, or securities share the same legal rank and treatment, so they are paid or suffer losses proportionally and without priority over one another. Think of it like people splitting a single bill where everyone gets the same percentage of payment or the same haircut; this matters to investors because it determines relative claim strength in payouts, restructurings, or bankruptcies.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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DALLAS, July 23, 2026 /PRNewswire/ -- Fermi Inc. (NASDAQ and LSE: FRMI) (LEI: 529900TSHBYBCFMYZ228), ("Fermi" or the "Company"), the Texas-based company focused on developing electric grids that deliver on-demand power at gigawatt scale required to create next-generation artificial intelligence, announces that the Company has applied for the admission of 12,127,558 shares of common stock of $0.001 per share (ISIN: US3149111086) ("Common Stock") ("Shares") to trading on the Main Market of the London Stock Exchange plc ("LSE") in relation to the settlement of respective advisory fees of certain advisers and vesting of restricted stock units that settle in Common Stock ("Admission").

Admission is expected to take place at 8:00 a.m. on 29 July 2026.

The Shares are fully paid and rank pari-passu in all respects with the Company's shares of Common Stock currently admitted to the Equity Shares (International Commercial Companies Secondary Listing) category of the Official List of the Financial Conduct Authority (the "FCA") and to trading on the LSE and are fungible with the Common Stock already admitted to trading.

Total voting rights

Following Admission, there will be 640,467,348 shares of Common Stock each in issue with voting rights admitted to the Official List of the FCA and to trading on the Main Market of the LSE. No shares are held in treasury. This figure may be used by shareholders as the denominator for the calculations by which they can determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

About Fermi America™

Fermi America™ (Nasdaq & LSE: FRMI) develops next-generation private electric grids that deliver highly redundant power at gigawatt scale to support next-generation intelligence and AI compute. Fermi America™ combines cutting-edge technology with a deep bench of proven world-class multi-disciplinary leaders with a combined 25 GW of experience, to create the world's largest, 11 GW next-gen private grid, helping ensure America's energy and AI dominance. The behind-the-meter Project Matador campus is expected to integrate the nation's biggest combined-cycle natural gas project, one of the largest clean, new nuclear power complexes in America, utility grid power, solar power, and battery energy storage, to support hyperscale AI and advanced computing. For additional information visit www.fermiamerica.com.

Contacts

Investors
Rodrigo Acuna
IR@fermiamerica.com

Media
Joele Frank, Wilkinson Brimmer Katcher
Michael Freitag / Adam Pollack / Eliza Rothstein
212-355-4449

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/fermi-inc-admission-of-shares-of-common-stock-and-total-voting-rights-302832731.html

SOURCE Fermi Inc.

FAQ

What did Fermi (NASDAQ, LSE: FRMI) announce about new share admissions on July 23, 2026?

Fermi announced it applied to admit 12,127,558 common shares to trading on the London Stock Exchange Main Market. According to Fermi, these shares relate to settling certain advisory fees and vesting of restricted stock units that are settled in common stock.

When will Fermi FRMI’s new common shares be admitted to trading on the LSE?

Fermi expects Admission of the 12,127,558 common shares at 8:00 a.m. on 29 July 2026. According to Fermi, the shares will trade on the Main Market of the London Stock Exchange once Admission becomes effective.

How many total voting rights will Fermi (FRMI) have after the new share Admission?

Following Admission, Fermi will have 640,467,348 common shares in issue with voting rights admitted in London. According to Fermi, no shares are held in treasury, so this figure is the full denominator for voting-rights calculations.

Why is Fermi issuing 12,127,558 new FRMI shares for London listing?

Fermi is admitting 12,127,558 common shares in relation to settling advisory fees and vesting restricted stock units. According to Fermi, these RSUs settle in common stock, and the admitted shares are fully paid and rank pari passu with existing shares.

Are Fermi’s newly admitted FRMI shares fungible with existing London-listed stock?

Yes, the 12,127,558 new common shares are fungible with Fermi’s existing London-listed stock. According to Fermi, the shares are fully paid and rank pari passu in all respects with its currently admitted common shares on the LSE.

How can Fermi FRMI shareholders use the total voting rights figure after Admission?

Shareholders can use the 640,467,348 total voting rights figure as the denominator when calculating disclosure thresholds. According to Fermi, this helps investors determine when to notify interests or changes under the FCA’s Disclosure Guidance and Transparency Rules.