Rick Perry’s Energy REIT Fermi Seeks Up to $550 Million in IPO

Fermi Inc., a real estate investment trust co-founded by former US Secretary of Energy Rick Perry, is planning to raise as much as $550 million in an initial public offering.

The REIT plans to market 25 million shares for $18 to $22 each, according to its filing Wednesday with the US Securities and Exchange Commission. The offering is expected to price on Sept. 30 for trading on Oct. 1, according to deal terms seen by Bloomberg News.

At the top of that range, the company would have a market value of $13.2 billion based on the outstanding shares ...