Fermi Provides Update on Lease Agreement as Parties Work Toward Closing
Key Highlights
- ➤October 31 closing deadline passed; Fermi-TensorWave lease remains ineffective
- ➤Fermi and TensorWave continue working toward closing without termination
- ➤Lease requires work letters, guaranties, operating schedules, approvals, and project financing
- ➤Fermi expects to discuss lease negotiations on next week’s earnings call
Expert Statements
Lee McIntire, Chief Executive Officer of Fermi
“Both Fermi and TensorWave remain committed to this lease, and we are continuing to work through the remaining conditions prior to close”
Lee McIntire, Chief Executive Officer of Fermi
“We expect to provide more information on the discussions during our earnings call next week, or sooner if appropriate.”
DALLAS, TX / ACCESS Newswire / November 3, 2026 / Fermi Inc. (NASDAQ:FRMI)(LSE:FRMI), operating as Fermi America(™) ("Fermi" or the "Company"), today issued the following statement on the Data Center Lease and Services Agreement (the "Lease") between its wholly owned subsidiary, Fermi Campus 1 LLC, and TensorWave TEX1, LLC ("TensorWave"), after the October 31, 2026 closing date passed without extension.
"Both Fermi and TensorWave remain committed to this lease, and we are continuing to work through the remaining conditions prior to close," said Lee McIntire, Fermi Chief Executive Officer. "We expect to provide more information on the discussions during our earnings call next week, or sooner if appropriate."
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