<SEC-DOCUMENT>0001213900-25-095565.txt : 20251002
<SEC-HEADER>0001213900-25-095565.hdr.sgml : 20251002
<ACCEPTANCE-DATETIME>20251002175121
ACCESSION NUMBER:		0001213900-25-095565
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20250930
FILED AS OF DATE:		20251002
DATE AS OF CHANGE:		20251002

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Perry Griffin
		CENTRAL INDEX KEY:			0001950683
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-42888
		FILM NUMBER:		251370974

	MAIL ADDRESS:	
		STREET 1:		5217 MCKINNEY AVENUE
		STREET 2:		SUITE 400
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75205

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Caddis Holdings, LLC
		CENTRAL INDEX KEY:			0002088947
		ORGANIZATION NAME:           	
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-42888
		FILM NUMBER:		251370973

	BUSINESS ADDRESS:	
		STREET 1:		10454 EPPING LN.
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75229
		BUSINESS PHONE:		000-000-0000

	MAIL ADDRESS:	
		STREET 1:		10454 EPPING LN.
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75229

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Fermi Inc.
		CENTRAL INDEX KEY:			0002071778
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		ORGANIZATION NAME:           	05 Real Estate & Construction
		EIN:				333560468
		STATE OF INCORPORATION:			TX
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		620 S. TAYLOR
		STREET 2:		SUITE 301
		CITY:			AMARILLO
		STATE:			TX
		ZIP:			79101
		BUSINESS PHONE:		512-552-0219

	MAIL ADDRESS:	
		STREET 1:		620 S. TAYLOR
		STREET 2:		SUITE 301
		CITY:			AMARILLO
		STATE:			TX
		ZIP:			79101

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Fermi LLC
		DATE OF NAME CHANGE:	20250605
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>ownership.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0206</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2025-09-30</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0002071778</issuerCik>
        <issuerName>Fermi Inc.</issuerName>
        <issuerTradingSymbol>FRMI</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001950683</rptOwnerCik>
            <rptOwnerName>Perry Griffin</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>620 S. TAYLOR ST.,</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 301</rptOwnerStreet2>
            <rptOwnerCity>AMARILLO</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>79101</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0002088947</rptOwnerCik>
            <rptOwnerName>Caddis Holdings, LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>620 S. TAYLOR ST.,</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 301</rptOwnerStreet2>
            <rptOwnerCity>AMARILLO</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>79101</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>71946450</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Reflects shares of common stock of Fermi Inc. (the &quot;Issuer&quot;) directly held by Caddis Holdings, LLC. Mr. Perry is a managing member of Caddis Holdings, LLC and may be deemed to beneficially own common stock of the Issuer held by Caddis Holdings, LLC. Mr. Perry disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein. This report shall not be deemed an admission that Mr. Perry is the beneficial owner of such securities for purposes of Sections 13 or 16 of the Securities Exchange Act of 1934, as amended (the &quot;Exchange Act&quot;), or for any other purpose. The reporting persons declare that neither the filing of this statement nor anything herein shall be construed as an admission that such persons are, for the purposes of Section 13(d) or 13(g) of the Exchange Act or any other purpose, a member of a group with respect to the Issuer or securities of the Issuer.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>GRIFFIN PERRY /s/ Griffin Perry</signatureName>
        <signatureDate>2025-09-30</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>CADDIS HOLDINGS, LLC /s/ Griffin Perry, Managing Member</signatureName>
        <signatureDate>2025-09-30</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
