Arizona Tribune - Fermi America Secures $156.25 Million Committed Financing Facility from Yorkville Advisors, Surpassing $1 Billion in Total Committed Financing and Capping a Year of Unmatched Execution for Project Matador

AMARILLO, TX / ACCESS Newswire / April 1, 2026 / Fermi Inc. (d/b/a Fermi America) (NASDAQ:FRMI)(LSE:FRMI), operating as Fermi America™, in partnership with the Texas Tech University System (TTU System), today announced that it has entered into a senior unsecured promissory note (the "Yorkville Note") with YA II PN, Ltd. ("YA II PN"), an investment fund managed by Yorkville Advisors Global, LP ("Yorkville"), providing committed financing of up to $156.25 million to support general corporate purposes.

Yorkville is one of the most experienced structured financing partners in the public markets, with more than two decades of deploying capital alongside high-conviction management teams building transformational businesses. Fermi America selected Yorkville for its deep familiarity with complex capital structures and its track record of remaining a committed partner through critical phases of company growth. For a project of Project Matador's scale and urgency, the right financing partner is as important as the capital itself. Yorkville brings both.

Today's announcement comes alongside a year of unmatched execution at Project Matador, which Fermi America highlighted on its fiscal year 2025 earnings call.

Permitting: TCEQ approved a ~6 GW Clean Air Permit, with an additional ~5 GW permit application filed on March 27, 2026 - positioning Project Matador to reach ~17 GW of total private power

Nuclear: The only active Combined Operating License Application for a large light-water reactor accepted for review by the NRC in more than 15 years, with Project Matador selected as inaugural participant in the NRC's accelerated environmental review pilot program

Construction: First phase of construction complete and more than 2 GW of gas-fired power generation (in combined cycle) acquired

Capital: More than $1 billion in total committed financing secured, including over $865 million in committed equipment financing from MUFG, Keystone National Group, and CSG Investments/Beal Bank USA, and the $156.25 million Yorkville Note announced today

"You earn partners like Yorkville by doing what you said you would do," said Toby Neugebauer, Chief Executive Officer and Co-Founder of Fermi America. "We are focused on executing at FermiSpeed to ensure power certainty at scale for our hyperscaler tenants and are honored to have such strong financial partners."

The Yorkville Note provides up to five advances during an availability period extending through October 1, 2026. Each advance is funded by a 4% funding premium. The note matures in September 2027 and bears interest at 0% per annum, subject to increase upon an event of default. No amounts have been drawn as of the date of this release. Proceeds are designated for general corporate purposes.

"Crossing $1 billion in committed financing in our first year is not a milestone we take lightly," said John Donovan, Executive Vice President of Capital Markets for Fermi America. "Yorkville brings more than capital - they bring conviction, speed, and a track record of backing companies that deliver. That is exactly the kind of lender we seek to partner with as we embark on the development of our 17 GW campus."

Texas Capital Securities served as financial advisor to Fermi America in connection with this transaction.

In connection with the Yorkville Note, Fermi America has agreed to negotiate in good faith to establish a committed equity line of credit facility with Yorkville, and to use commercially reasonable efforts to register the resale of shares of common stock issuable under the note and the equity line of credit.

"Fermi has accomplished much in a short period of time, and we are excited by its tremendous growth potential and to be teaming up with them on financing this growth," said Mark Angelo, President of Yorkville Advisors Global, LP.

For media inquiries:
Lexi Swearingen
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Fermi America™ official business information
Legal Entity: Fermi Inc. (d/b/a Fermi America) (NASDAQ & LSE: FRMI)
Brand Name: Fermi America™
Address: 620 S Taylor St #301 Amarillo, TX 79101-2436
Website: https://fermiamerica.com/

About Fermi America™:

Fermi America™ (NASDAQ & LSE: FRMI) is an advanced energy and hyperscaler development company with a mission to power the future of artificial intelligence directly to the world's most compute-intensive businesses through its flagship initiative, Project Matador. Co-founded by former U.S. Energy Secretary Rick Perry and Co-Founder and former Co-Managing Partner of Quantum Energy Partners Toby Neugebauer, Fermi America™ combines a deep bench of proven world-class multi-disciplinary leaders, the nation's second-largest ~6 GW Clean Air Permit, over $1 billion in total committed financing, and ~2.5 GW of secured long lead time gas-fired generation assets (in combined cycle) to build the world's largest next-gen private power grid. Ultimately constructing ~17 GW of private, low-carbon, on-demand power, Project Matador is expected to integrate the world's largest combined-cycle natural gas projects, advanced nuclear power generation, utility grid power, solar power, and battery energy storage to support hyperscale AI and advanced compute at scale.

About the Texas Tech University System (TTU System):

The Texas Tech University System is one of the largest systems of higher education in Texas, with nearly 50,000 students across four institutions: Texas Tech University, Texas Tech University Health Sciences Center, Texas Tech University Health Sciences Center El Paso, and Angelo State University. Guided by its mission to transform lives through higher education and empower progress in Texas and beyond, the TTU System partners with industry leaders to advance research, innovation, and economic development. The TTU System's partnership with Fermi America on Project Matador reflects its commitment to driving transformational growth in Texas and supporting America's technological and energy future.

About Yorkville Advisors Global, LP:

Yorkville Advisors Global, LP ("Yorkville") is a global investment manager providing flexible financing solutions to businesses worldwide. Yorkville specializes in customized debt and equity financing solutions for public and private companies across diverse sectors and geographies. Founded in 2001 by Mark Angelo, Yorkville has invested in over 750 companies across more than 22 countries, with transactions valued at more than $7.5 billion.

About Texas Capital Securities:

TCBI Securities, Inc., doing business as Texas Capital Securities is a subsidiary of Texas Capital Bancshares, Inc., and an affiliate of Texas Capital Bank. Texas Capital Bancshares, Inc., a member of the Russell 2000® Index and the S&P MidCap 400®, is the parent company of Texas Capital Bank ("TCB"). Texas Capital is the collective brand name for TCB and its separate, non-bank affiliates and wholly owned subsidiaries. Texas Capital is a full-service financial services firm that delivers customized solutions to businesses, entrepreneurs and individual customers. Founded in 1998, Texas Capital is headquartered in Dallas with offices and financial centers in Austin, Houston, San Antonio and Fort Worth and has built a network of clients across the country. With the ability to service clients through their entire lifecycles, Texas Capital has established commercial banking, consumer banking, investment banking and wealth management capabilities.

Forward-Looking Statements:

This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our strategy, future operations, financial position, prospects, plans and objectives of management. In some cases, you can identify forward-looking statements because they contain words such as "may," "will," "will be," "will likely result," "should," "expects," "plans," "anticipates," "could," "would," "foresees," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential," "outlook," or "continue" or the negative of these words or other similar terms or expressions. These forward-looking statements are not guarantees of future performance, but are based on management's current expectations, assumptions, and beliefs concerning future developments and their potential effect on us, which are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict. Our expectations expressed or implied in these forward-looking statements may not turn out to be correct. Our results could be materially different from our expectations because of various risks.

SOURCE: Fermi Inc.

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A.Williams--AT