StoryFunding
Fervo Energy lists on Nasdaq under the ticker FRVO
Fervo Energy priced an upsized initial public offering of 70 million Class A shares at $27 per share, raising ~$1.89 billion gross, and began trading on Nasdaq under ticker FRVO on May 13, 2026. The IPO was led by J.P. Morgan, BofA Securities, RBC Capital Markets, and Barclays, providing public capital for the geothermal developer to build Cape Station and future projects.
- IPO priced 70 million shares at $27/share, an upsize from 55.6 million originally planned. Underwriters received a 30-day option for 10.5 million additional shares.
- Shares began trading on Nasdaq under FRVO on May 13, 2026, with the offering closing on May 14, 2026.
- Gross proceeds approximately $1.89 billion, funding development of Cape Station and subsequent geothermal energy projects.