#United States #Amarillo #IPO #Fermi America #Haynes Boone

Fermi America Achieves Groundbreaking Dual Listing and IPO with Haynes Boone

Fermi America, co-founded by former U.S. Energy Secretary Rick Perry and current CEO Toby Neugebauer, has recently made headlines by successfully executing an initial public offering (IPO) valued at $13.8 billion. The iconic event marks a significant milestone, being one of the first instances this century where a company has achieved a dual listing on both the Nasdaq and the London Stock Exchange (LSE). This transaction reflects Fermi's innovative approach to energy and infrastructure, as they aim to solidify their position in the ever-evolving tech-driven energy sector.

The IPO raised an impressive $682.5 million by selling 32.5 million shares at $21 each. This significant raise not only places Fermi in the ranks of one of the largest IPOs in LSE history but also underscores the growing demand for energy and AI infrastructure solutions in the current market landscape. This influx of capital will be directed towards Project Matador, Fermi's ambitious initiative focused on delivering cutting-edge data facilities on a sprawling 5,000-acre campus in Amarillo, Texas.

Project Matador is a remarkable venture, encompassing an 11-gigawatt power delivery goal paired with 18 million square feet of facilities specifically designed to enhance artificial intelligence capabilities. Utilized energy sources include renewable energy like solar, alongside nuclear and natural gas facilities, supplemented by innovative battery storage solutions. The project's scale is aimed at establishing one of the world’s largest data center complexes, reflecting sectoral shifts toward sustainability and efficiency in energy production and consumption.

Neugebauer expressed profound gratitude to Haynes Boone for their unwavering support throughout this complex process, stating, "In working around the clock and sharing the sense of urgency required for us to execute on the world's largest private-grid campus to power the future of AI, the team at Haynes Boone have been more than our lawyers—they have been true partners." This statement highlights not only the successful collaboration between Fermi and Haynes Boone but also the strategic foresight present at every stage of this groundbreaking venture.

The transaction exemplifies Haynes Boone's extensive experience in capital markets and its proactive stance on energy, infrastructure and technology transactions. The leadership team, comprising Dallas Partner and Co-Chair Matt Fry, along with London Partners Nick Davis and Robert Bines-Black, navigated through both U.S. and U.K. aspects of the offering with remarkable skill. Their joint efforts have created a blueprint for future dual listings—a testament to the optimistic trajectory for high-growth companies looking to establish themselves globally.

Fry articulated the significance of this IPO by remarking, "It is an honor to advise on the first-ever dual listing of this kind, which required close coordination across jurisdictions and disciplines." The firm pushed boundaries by ensuring that Fermi's dual listing not only leveraged the innovative rules in the London market but also spotlighted Fermi America as a prime example of a modern, dynamic company ready to take on the world's energy demands.

Davis commented on the seamless collaboration between the Dallas and London offices that was vital for bringing Fermi to both markets, expressing hopes for more such endeavors in the future. Synonymous with transformation, the listing resonates with Haynes Boone's unwavering belief that the energy and technology sectors are crucial to global economic resilience and innovation.

As the IPO unfolds, it marks a pivotal moment for Haynes Boone's London office, solidifying its stature in capital matters by participating in 19 transactions this year across various sectors including energy and technology. Ranking first among U.S.-based firms for total AIM-listed clients, the firm's role is integral for facilitating cross-border offerings and dual listings—a gesture that promises robust returns amid a backdrop of historic growth in the global economy.

The team supporting Fry, Davis, Bines-Black and others included notable contributions from individuals specializing in capital markets, finance, tax, energy, and mergers—and their collaborative synergy has set the groundwork for Fermi’s sustained success in a competitive landscape.

As Fermi America embarks on this new journey, they do so fortified by the ambitions of innovation and the responsibilities that come with leading change in energy solutions and AI infrastructure. The upcoming period promises exciting developments as they aim to construct an operational hub that is not just about technological advancement, but also about ushering in a new era for energy utilization globally.

In summary, the successful dual listing of Fermi America serves as a landmark occasion reflecting a shift in both market dynamics and the emerging needs of a green, AI-driven world. With continuous innovations and ambitious projects like Project Matador, Fermi America is surely positioned to remain at the forefront of energy and infrastructure developments in the years to come.