Rick Perry's Fermi REIT Files for $550M IPO

Fermi Inc., a real estate investment trust co-founded by former U.S. Secretary of Energy Rick Perry, has filed for an initial public offering (IPO) seeking to raise up to $550 million, according to Bloomberg. The company submitted its filing with the U.S. Securities and Exchange Commission (SEC) on Wednesday. Fermi Inc. plans to offer 25 million shares to the public at a proposed price range of $18 to $22 per share. Pricing the shares at the top of this range would achieve the target of $550 million. The IPO is anticipated to be priced on September 30, with Fermi Inc. shares expected to begin trading on October 1.