Stockadora

IPOs / May 2026

Fervo Energy Co went public at $27.00 a share

It sold 70,000,000 shares on NASDAQ under the ticker FRVO and raised $1.9 billion before costs.

Final prospectus (424B4) filed May 14, 2026

The terms

  • Offered 70,000,000 shares Checked
    Source
    “We are offering 70,000,000 shares of our Class A common stock.”
    A model read this, and code confirmed the quote appears in the filing.
  • Price per share $27.00 Checked
    Source
    “We expect that the initial public offering price per share of our Class A common stock is $ 27.00 .”
    A model read this, and code confirmed the quote appears in the filing.
  • Raised $1,890,000,000before fees and costs Checked
    Source and check
    Shares × price = 70,000,000 × $27.00 = $1,890,000,000. They match.
    “Initial public offering price | $ 27.00 | $ 1,890,000,000”
    A model read this, and code confirmed the quote appears in the filing.
  • Bank fee $113,400,000$1.62 a share, 6.0% of the raise Checked
    Source
    “Underwriting discounts and commissions (1) | $ 1.62 | $ 113,400,000”
    A model read this, and code confirmed the quote appears in the filing.
  • Company receives first $1,776,600,000before other costs Checked
    Source and check
    Raised − bank fee = $1,890,000,000 − $113,400,000 = $1,776,600,000. They match.
    “Proceeds, before expenses, to us | $ 25.38 | $ 1,776,600,000”
    A model read this, and code confirmed the quote appears in the filing.
  • Lead banks J.P. Morgan, BofA Securities, RBC Capital Markets, Barclays From the prospectus
    Source
    “Joint Lead Bookrunning Managers J.P. Morgan | BofA Securities | RBC Capital Markets | Barclays”
    A model read this, and code confirmed the quote appears in the filing.
  • Trades as FRVO on NASDAQ Checked
    Source
    “We have been approved to list our Class A common stock on the NASDAQ under the symbol “FRVO.””
    A model read this, and code confirmed the quote appears in the filing.
  • Extra for the banks Up to 10,500,000 sharesan option the banks may use From the prospectus
    Source
    “We have granted the underwriters an option for a period of 30 days from the date of this prospectus to purchase up to an additional 10,500,000 shares of our Class A common stock from us at the initial public offering price, less the underwriting discounts and commissions.”
    A model read this, and code confirmed the quote appears in the filing.
  • Final prospectus filed May 14, 2026
Not investment advice.Open the filing on SEC.gov

Where the money goes first

The banks take their fee before the company sees the money.

Raised $1.9B, bank fee $113.4M, company receives $1.8B before other costs$1.9BRaised−$113.4MBank fee$1.8BCompany receives first

Where Fervo Energy Co sits among the last 12 months

Each bubble is one IPO. Bigger and higher means more money raised. The scale grows by ten times at each line.

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