IPO Journey
Fervo Energy Co
IPO Date: May 14, 2026 · 5 filings tracked
Final Offer Terms
Ticker
FRVO
Exchange
NASDAQ
Offer Price
$27.00
Shares Offered
70,000,000
Estimated Proceeds
$1.9B
Expected Listing
May 14, 2026
Underwriters
Led by J.P. Morgan, BofA Securities
RBC Capital MarketsBarclays
Filing Timeline
1
S-1
April 17, 2026
- Pioneering 'next-generation' geothermal energy using horizontal drilling and well stimulation technology.
- Scalable 'GeoBlock' and 'GeoCluster' model designed to reach gigawatt-level power production.
2
S-1/A
May 4, 2026
- Provides 24/7 clean baseload power, differentiating it from intermittent solar and wind.
- Scalable 'GeoBlock' manufacturing model designed to lower costs through standardization.
Changes from previous filing
- ▸ Exchange: Nasdaq
- ▸ Expected offer range: $21.0 – $24.0 per share
- ▸ Shares offered: 55,555,555
- ▸ Estimated proceeds: $1166M
3
S-1/A
May 8, 2026
- Pioneering 'next-generation' geothermal energy using proven oil and gas horizontal drilling techniques.
- Strong demand from AI data centers requiring reliable, 24/7 clean energy.
Changes from previous filing
- ▸ Exchange: NASDAQ
4
S-1/A
May 11, 2026
- Pioneering 'next-generation' geothermal technology using horizontal drilling.
- Secured $7.2 billion in long-term potential future revenue contracts.
Changes from previous filing
- ▸ Exchange: Nasdaq
- ▸ Expected offer range: $25.0 – $26.0 per share
- ▸ Shares offered: 70,000,000
- ▸ Estimated proceeds: $1750M
424B4
Final Pricing
May 14, 2026
- Pioneering 'next-generation' geothermal energy using horizontal drilling technology.
- Strategic focus on providing 24/7 carbon-free power for AI and data centers.
Changes from previous filing
- ▸ Exchange: NASDAQ
- ▸ Price range removed
- ▸ Final offer price: $27.0 per share
- ▸ Estimated proceeds: $1890M
- ▸ Underwriters: J.P. Morgan, BofA Securities, RBC Capital Markets, Barclays
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