InvestmentMay 12, 2026, 07:35 PM
Fervo Energy Prices Upsized IPO of 70M Shares at $27.00
AI Summary
Fervo Energy announced the pricing of its upsized initial public offering of 70,000,000 shares of Class A common stock at $27.00 per share. The offering was significantly upsized from the originally proposed 55,555,555 shares, indicating strong market demand. The company has also granted underwriters an option to purchase an additional 10,500,000 shares. Trading is expected to commence on Nasdaq on May 13, 2026, under the ticker symbol "FRVO", with the offering set to close on May 14, 2026.
Key Highlights
- Fervo Energy priced its upsized initial public offering of 70,000,000 shares.
- The shares were priced at $27.00 per share.
- The offering was upsized by 14,444,445 shares from the originally proposed 55,555,555 shares.
- Underwriters have a 30-day option to purchase up to an additional 10,500,000 shares.
- Shares are expected to begin trading on Nasdaq on May 13, 2026, under ticker "FRVO".
- The offering is expected to close on May 14, 2026.