Fermi Inc. (FRMI) Shareholder/Analyst Call Transcript

Operator

Good afternoon. Thank you for standing by, and welcome to the Neugebauer and Fermi Analysts Live Town Hall. [Operator Instructions] Legal disclaimers for this call are on the screen, and you are encouraged to read them in their entirety.

I’d now like to turn the call over to Toby Neugebauer, the co-founder and largest shareholder of Fermi America for live opening remarks.

Toby Neugebauer

Well, good afternoon, everybody. And I almost want to correct something. My wife is the largest shareholder. I just get to speak for her today. When I think about June 30, and I think it’s the #1 question, we anticipated June 30 to be a big day for Fermi. We anticipated at the time of our departure that this would be the day that we would announce 2 tenants. And we always — our friend, Nick, with Evercore always say, Toby likes to announce things on holidays. And this one was the birthday of one of our key negotiators for tenant 1 and tenant 2.

And so before we just start this call, I really do think as shareholders, we have to move on beyond are we getting a tenant. That’s not what this call is about. That should not be what’s in your thought process. Again, we were planning on June 30 being the announcement of our first 2 tenants, but at least our first one. As I was reflecting on if it’s not about the tenant, then what is the call about? And what is Toby want? And what is Toby worried about? And I didn’t sleep last night, and I came up with a slide that really sums up what I think