InvestmentMay 11, 2026, 08:12 AM
Fervo Energy Upsizes IPO to 70M Shares, Price Range $25-$26
AI Summary
Fervo Energy announced it has upsized its proposed initial public offering (IPO) of Class A common stock. The company now plans to issue 70,000,000 shares, an increase of 14,444,445 shares from the initial proposal. The expected IPO price range has also been raised to between $25.00 and $26.00 per share, up from the original $21.00-$24.00 range. Additionally, Fervo expects to grant underwriters a 30-day option to purchase up to an extra 10,500,000 shares.
Key Highlights
- Fervo Energy upsized its IPO to 70,000,000 shares of Class A common stock.
- This represents a 14,444,445 share increase from the originally proposed 55,555,555 shares.
- The expected IPO price range increased to $25.00-$26.00 per share.
- The original expected IPO price range was $21.00-$24.00 per share.
- Underwriters have a 30-day option to purchase up to an additional 10,500,000 shares.
- The company has applied to list its Class A common stock on Nasdaq under "FRVO."