Fervo Energy’s completed IPO totals $2.1735 billion including additional shares
The May 2026 offering expanded beyond its initial $1.89 billion pricing as underwriters exercised their option in full.
Fervo Energy priced its IPO on 12 May 2026 at $27 per share, initially offering 70 million shares. The completed transaction on 14 May included another 10.5 million shares sold through the underwriters’ option, bringing gross proceeds to $2.1735 billion.
All 80.5 million shares in that total were sold by the company. Its subsequent filing put proceeds after underwriting discounts and commissions at approximately $2.043 billion, before other offering expenses.
The transaction took the geothermal developer onto Nasdaq under the symbol FRVO. Fervo’s operating model adapts drilling and monitoring techniques to produce electricity from underground heat, placing large infrastructure projects behind the public-market raise.