Backfill: Fermi's unnamed "First Tenant" terminates a $150M advance-in-aid-of-construction agreement; shares fall ~34%
On Dec 12, 2025 Fermi disclosed that the prospective anchor customer identified in its filings only as the "First Tenant" had terminated an Advance in Aid of Construction Agreement that would have supplied up to $150M toward the Carson County build; no funds had been drawn. Shares fell $5.16, or nearly 34%, to $10.09.
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