# EDGAR Filing Document

**Accession Number:** 0001098464
**File Stem:** 0001213900-25-111176
**Filing Date:** 2025-11
**Character Count:** 15019
**Document Hash:** c03c24e086ac4d4faf5de1c67310f0d5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-25-111176.hdr.sgml**: 20251114

**ACCESSION NUMBER**: 0001213900-25-111176

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13G

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20251114

**DATE AS OF CHANGE**: 20251114

**SUBJECT COMPANY**: 

**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

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-95303
- **FILM NUMBER:** 251489055

**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
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NEUGEBAUER TOBY R
- **CENTRAL INDEX KEY:** 0001098464

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G

**MAIL ADDRESS:**
- **STREET 1:** 777 WALKER
- **STREET 2:** 2530 TWO SHELL PLAZA
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77002

## Ex-99.A

**EXHIBIT A**

**JOINT FILING AGREEMENT**

In accordance with Rule 13d-1(k)(1) promulgated under the Securities Exchange Act of 1934, as amended, the undersigned hereby agree to the joint filing with each of the Reporting Persons (as such term is defined in the Schedule 13G referred to below) by Toby Neugebauer, on behalf of each of them of a statement on Schedule 13G (including amendments thereto) with respect to the Common Stock of Fermi Inc., a Texas corporation, and that this agreement may be included as an exhibit to such joint filing.

Dated: November 14, 2025

---

| | |
|:---|:---|
| Melissa A. Neugebauer 2020 Trust | Melissa A. Neugebauer 2020 Trust |
| By: | /s/ Toby Neugebauer |
| Name: | Toby Neugebauer |
| Title: | Investment Trustee |
| Vicksburg Investments Management LLC | Vicksburg Investments Management LLC |
| By: | /s/ Toby Neugebauer |
| Name: | Toby Neugebauer |
| Title: | Managing Member |
| Toby Neugebauer | Toby Neugebauer |
| By: | /s/ Toby Neugebauer |
| Name: | Toby Neugebauer |

---

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13G

### Under the Securities Exchange Act of 1934

**Issuer:** Fermi Inc.

**Title of Class of Securities:** Common Stock, $0.001 par value per share

**CUSIP Number:** 314911108

**Date of Event Which Requires Filing of this Statement:** 09/30/2025

**Check the appropriate box to designate the rule pursuant to which this Schedule is filed:**

- [ ] Rule 13d-1(b)

- [ ] Rule 13d-1(c)

- [x] Rule 13d-1(d)

---

| 1. | Names of Reporting Persons<br>Melissa A. Neugebauer 2020 Trust | Names of Reporting Persons<br>Melissa A. Neugebauer 2020 Trust |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>TX | Citizenship or Place of Organization<br>TX |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>94359659.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>94359659.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>94359659.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>94359659.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>16.4% | Percent of Class Represented by Amount in Row (9)<br>16.4% |
| 12. | Type of Reporting Person (See Instructions)<br>OO | Type of Reporting Person (See Instructions)<br>OO |

**Comment for Type of Reporting Person:** Aggregate amount beneficially owned consists of 94,359,659 shares of Common Stock held by the Melissa A. Neugebauer 2020 Trust, for which Toby Neugebauer serves as the investment trustee. As the investment trustee, Mr. Neugebauer may be deemed to hold voting and investment power with respect to the shares of Common Stock held by the Melissa A. Neugebauer 2020 Trust. Mr. Neugebauer disclaims beneficial ownership of the shares of Common Stock held by the Melissa A. Neugebauer 2020 Trust except to the extent of his pecuniary interest therein.

Percent ownership is calculated based on 574,977,840 shares of Common Stock outstanding as of September 30, 2025, as reported by the Issuer in its Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 12, 2025.

---

| 1. | Names of Reporting Persons<br>Vicksburg Investments Management LLC | Names of Reporting Persons<br>Vicksburg Investments Management LLC |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>TX | Citizenship or Place of Organization<br>TX |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>40156376.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>40156376.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>40156376.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>40156376.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>7.0% | Percent of Class Represented by Amount in Row (9)<br>7.0% |
| 12. | Type of Reporting Person (See Instructions)<br>PN | Type of Reporting Person (See Instructions)<br>PN |

**Comment for Type of Reporting Person:** Aggregate amount beneficially owned consists of 40,156,376 shares of Common Stock held by Vicksburg Investments Management LLC, for which Mr. Neugebauer is a managing member.

Percent ownership is calculated based on 574,977,840 shares of Common Stock outstanding as of September 30, 2025, as reported by the Issuer in its Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 12, 2025.

---

| 1. | Names of Reporting Persons<br>Toby Neugebauer | Names of Reporting Persons<br>Toby Neugebauer |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>TX | Citizenship or Place of Organization<br>TX |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>4500000.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>139601446.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>4500000.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>139601446.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>144101446.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>144101446.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>24.1% | Percent of Class Represented by Amount in Row (9)<br>24.1% |
| 12. | Type of Reporting Person (See Instructions)<br>IN | Type of Reporting Person (See Instructions)<br>IN |

**Comment for Type of Reporting Person:** Aggregate amount beneficially owned consists of 94,359,659 shares of Common Stock held by the Melissa A. Neugebauer 2020 Trust, for which Toby Neugebauer serves as the investment trustee and may be deemed to hold voting and investment power with respect to the shares of Common Stock held by the Melissa A. Neugebauer 2020 Trust. Mr. Neugebauer disclaims beneficial ownership of the shares of Common Stock held by the Melissa A. Neugebauer 2020 Trust except to the extent of his pecuniary interest therein. Also consists of 40,156,376 shares of Common Stock held by Vicksburg Investments Management LLC, for which Mr. Neugebauer is a managing member, and 4,500,000 shares of Common Stock held by TMNN Manager LLC, for which Mr. Neugebauer is a managing member.

Percent ownership is calculated based on 574,977,840 shares of Common Stock outstanding as of September 30, 2025, as reported by the Issuer in its Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 12, 2025.

---

**Item 1(a). Name of Issuer:**
Fermi Inc.

**Item 1(b). Address of Issuer's Principal Executive Offices:**
620 S. Taylor, Suite 301, Amarillo, Texas 79101

**Item 2(a). Name of Person Filing:**
This Schedule 13G is being filed on behalf of:

Melissa A. Neugebauer 2020 Trust

Vicksburg Investments Management LLC

Toby Neugebauer

**Item 2(b). Address of Principal Business Office:**
The principal business address of each of the Reporting Persons is 10777 Strait Lane, Dallas, TX 75229.

**Item 2(c). Citizenship:**
See response to Item 4 on each cover page.

**Item 2(d). Title of Class of Securities:**
Common Stock, $0.001 par value per share

**Item 2(e). CUSIP Number:**
314911108

**Item 3. If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:**

(a) [ ] Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).

(b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).

(c) [ ] Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).

(d) [ ] Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).

(e) [ ] An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);

(f) [ ] An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);

(g) [ ] A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);

(h) [ ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

(i) [ ] A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

(j) [ ] A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), if filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:

(k) [ ] Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).

**Item 4. Ownership:**

**(a) Amount beneficially owned:**

See response to Item 9 on each cover page.
94,359,659 shares of Common Stock are directly held by the Melissa A. Neugebauer 2020 Trust, for which Toby Neugebauer serves as the investment trustee.  As investment trustee, Mr. Neugebauer may be deemed to hold voting and investment power with respect to the shares of Common Stock held by the Melissa A. Neugebauer 2020 Trust. Mr. Neugebauer disclaims beneficial ownership of the shares of Common Stock held by the Melissa A. Neugebauer 2020 Trust except to the extent of his pecuniary interest therein.
As a Managing Member of each of Vicksburg Investments Management LLC and TMNN Manager LLC, Mr. Neugebauer may also be deemed to hold voting and investment power of the 40,156,376 shares of Common Stock held by Vicksburg Investments Management LLC and the 4,500,000 shares of Common Stock held by TMNN Manager LLC. Nothing in this statement shall be deemed an admission of beneficial ownership of the reported securities for purposes Section 13(d) or Section 13(g) of the Exchange Act.

**(b) Percent of class:**

See response to Item 11 on each cover page.

**(c) Number of shares as to which the person has:**

**(i) Sole power to vote or to direct the vote:**

See response to Item 5 on each cover page.

**(ii) Shared power to vote or to direct the vote:**

See response to Item 6 on each cover page.

**(iii) Sole power to dispose or to direct the disposition of:**

See response to Item 7 on each cover page.

**(iv) Shared power to dispose or to direct the disposition of:**

See response to Item 8 on each cover page.

**Item 5. Ownership of Five Percent or Less of a Class.**

[x] If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following.

**Item 6. Ownership of More than 5 Percent on Behalf of Another Person.**

Not Applicable

**Item 7. Identification and Classification of the Subsidiary**

Not Applicable

**Item 8. Identification and Classification of Members of the Group**

Not Applicable

**Item 9. Notice of Dissolution of Group**

Not Applicable

**Item 10. Certification:**

—

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Melissa A. Neugebauer 2020 Trust**

**Date:** 11/14/2025

**By:** /s/ Toby Neugebauer

**Name & Title:** Toby Neugebauer/Investment Trustee

**Vicksburg Investments Management LLC**

**Date:** 11/14/2025

**By:** /s/ Toby Neugebauer

**Name & Title:** Toby Neugebauer/Managing Member

**Toby Neugebauer**

**Date:** 11/14/2025

**By:** /s/ Toby Neugebauer

**Name & Title:** Toby Neugebauer