Fermi Inc., a real estate investment trust (REIT) co-founded by former U.S.Secretary of Energy Rick Perry, has filed plans for an initial public offering (IPO) that could raise as much as $550 million, according to a filing with the U.S. Securities and Exchange Commission (SEC).

The REIT intends to offer 25 million shares priced between $18 and $22 each. Based on this range, the IPO could value Fermi Inc. between $450 million and $550 million. Deal terms, as reported by Bloomberg News, indicate a planned pricing date of September 30th, with trading expected to commence on October 1st.

fermi Inc. focuses on investments within the energy sector’s real estate landscape. The company’s prospectus details its investment strategy and financial projections, offering potential investors insight into its planned operations and growth trajectory. Further details regarding the specific properties within Fermi’s portfolio are outlined in the SEC filing.