Fervo Energy launches IPO, offering 55.5M shares priced $21-$24 each on Nasdaq.

Fervo Energy has initiated its initial public offering (IPO), planning to sell 55,555,555 shares of Class A common stock priced between $21 and $24 per share. The company also grants underwriters a 30-day option to buy an additional 8,333,333 shares. Fervo aims to list its shares on Nasdaq under the ticker symbol "FRVO." This move supports Fervo's mission to scale its geothermal energy technology, providing reliable, carbon-free power. The IPO is managed by major financial institutions including J.P. Morgan and BofA Securities, with the registration statement filed but not yet effective.