Monitor first-day trading volume and price action on May 13 to gauge market reception. The upsized offering suggests strong institutional demand, but the large float (70M shares) may create near-term selling pressure. Watch for any lockup expiration announcements in the prospectus.
Price Chart
Executive Summary
Fervo Energy priced its upsized IPO of 70 million shares at $27.00 per share, raising approximately $1.89 billion in gross proceeds. The offering was upsized by 14.4 million shares from the originally proposed 55.6 million shares, indicating strong demand. The stock begins trading on Nasdaq on May 13, 2026, under ticker FRVO.
Key Financial Metrics
Key Facts
- IPO of 70,000,000 shares at $27.00 per share
- Upsized from originally proposed 55,555,555 shares (14,444,445 share increase)
- Underwriters granted 30-day option to purchase up to 10,500,000 additional shares
- Gross proceeds of approximately $1.89 billion (70M shares × $27)
- Expected to begin trading on Nasdaq on May 13, 2026
- Expected to close on May 14, 2026
- Joint lead bookrunners: J.P. Morgan, BofA Securities, RBC Capital Markets, Barclays
Financial Impact
Gross proceeds of approximately $1.89 billion from 70 million shares at $27.00 per share
Risk Factors
- Potential near-term selling pressure from the large share float
- Underwriters' option for additional 10.5M shares could add further dilution
- Geothermal energy sector volatility and regulatory risks
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3293585 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 12, 2026 14d ago | Institutional Cluster | $12.87 | awaiting T+20 | — | $7.96 (−38.15%) |
Oct 1, 2026 25d ago | 8-K | $14.46 | awaiting T+20 | — | $7.96 (−44.95%) |
Sep 1, 2026 7w ago | 8-K | $19.75 $13.87 | ▼ −29.77% | ▼ −30.95% | $7.96 (−59.70%) |
Aug 12, 2026 10w ago | 8-K | $20.16 $15.73 | ▼ −21.97% | ▼ −20.08% | $7.96 (−60.52%) |
Aug 12, 2026 10w ago | Press Release | $20.16 $15.73 | ▲ +21.97% | ▲ +20.08% | $7.96 (+60.52%) |
Jun 22, 2026 18w ago | 8-K | $36.36 $24.65 | ▼ −32.21% | ▼ −32.06% | $7.96 (−78.11%) |
Jun 12, 2026 19w ago | Press Release | $35.19 $27.13 | ▼ −22.90% | ▼ −24.68% | $7.96 (−77.38%) |
Jun 10, 2026 19w ago | 8-K | $34.64 $27.35 | ▼ −21.05% | ▼ −22.94% | $7.96 (−77.02%) |
May 15, 2026 23w ago | 8-K | $41.06 $35.19 | ▼ −14.30% | ▼ −16.41% | $7.96 (−80.61%) |
May 14, 2026 23w ago | 424B4 | $40.63 $35.19 | ▼ −13.39% | ▼ −12.53% | $7.96 (−80.41%) |
US Market Status
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