Rick Perry’s Energy REIT Fermi Boosts IPO Target to $715 Million

Fermi Inc. increased the number of shares in its initial public offering and is seeking to raise as much as $715 million, up from a target of as much as $550 million last week.

The company co-founded by former US Secretary of Energy Rick Perry plans to market 32.5 million shares for $18 to $22 each, according to a filing Monday with the US Securities and Exchange Commission. It previously planned to market 25 million shares with the same price range.

At the top of that range, the company would have a market value of $13 billion based on the ...