** Data center REIT Fermi's FRMI.O shares down 12.7% post-market to $6.39 as it seeks capital raise

** Amarillo, Texas-based FRMI announces private offering of $350 mln convertible bonds due 2031

** Intends to use net offering proceeds to fund capped call transactions to mitigate potential dilution, remainder for general corp purposes

** FRMI shares ended down 0.5% at $7.32 on Thurs. Stock down 20% this month and off 65% from its Sept 30 IPO price

** Stock plunged in Dec after a prospective tenant terminated a deal to help fund construction at its Texas site, and fell sharply in Apr after departures of CEO and co-founder Toby Neugebauer as well as CFO Miles Everson

** 8 of 10 brokers rate the stock "strong buy" or "buy", 2 "hold"; median PT $17.50, per LSEG data