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May 12, 2026 8:02 PM

Fervo Energy Announces Pricing of its Upsized Initial Public Offering

HOUSTON, May 12, 2026 (GLOBE NEWSWIRE) -- Fervo Energy ("Fervo" or the "Company") today announced the pricing of its upsized initial public offering ("IPO") of 70,000,000 shares of its Class A common stock, at a public offering price of $27.00 per share. The 70,000,000 share offering represents a 14,444,445 share upsize to the originally proposed 55,555,555 share offering. In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional 10,500,000 shares of Class A common stock.

The shares are expected to begin trading on the Nasdaq on May 13, 2026, under the ticker symbol "FRVO". The offering is expected to close on May 14, 2026, subject to customary closing conditions.

J.P. Morgan, BofA Securities, RBC Capital Markets, and Barclays acted as joint lead bookrunning managers for the offering. Baird, BBVA, Guggenheim Securities, MUFG, Societe Generale, William Blair, Piper Sandler, and Wolfe | Nomura Alliance ...