Fervo Energy announces upsized proposed initial public offering

HOUSTON, TX (May 11, 2026) – Fervo Energy announced it has upsized its proposed initial public offering of its Class A common stock. The Company plans to issue 70,000,000 shares of its Class A common stock at an expected IPO price of between $25.00 and $26.00 per share. The 70,000,000 share offering represent a 14,444,445 share upsize to the originally proposed 55,555,555 share offering. The expected IPO price of between $25.00 and $26.00 per share is an increase from the originally expected IPO price of between $21.00 and $24.00 per share. Additionally, Fervo expects to grant the underwriters a 30-day option to purchase up to an additional 10,500,000 shares of the Company’s Class A common stock. Fervo has applied to list its Class A common stock on the Nasdaq, subject to official notice of issuance, under the ticker symbol “FRVO.”