Rick Perry’s Energy REIT Fermi Boosts IPO Target to $715 Million

Bloomberg.com · last updated September 29, 2025 – 7:20 AM

Fermi Inc. increased the number of shares in its initial public offering and is seeking to raise as much as $715 million, up from a target of as much as $550 million last week.

The company co-founded by former US Secretary of Energy Rick Perry plans to market 32.5 million shares for $18 to $22 each, according to a filing Monday with the US Securities and Exchange Commission. It previously planned to market 25 million shares with the same price range.

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