Fervo Energy Lifts IPO Target to $1.82 Billion, Offering 70 Million Shares
Updated
Updated · Bloomberg · May 11
Fervo Energy Lifts IPO Target to $1.82 Billion, Offering 70 Million Shares
12 articles · Updated · Bloomberg · May 11
Fervo Energy boosted its US IPO target to as much as $1.82 billion, up from $1.33 billion in an updated SEC filing Monday.
70 million shares are now being marketed at $25 to $26 each, replacing an earlier plan to sell 55.56 million shares at $21 to $24.
At the top of the new range, the Houston-based geothermal developer would be valued at about $7.4 billion based on outstanding shares listed in the filing.
Bill Gates-backed Fervo is testing investor appetite for large-scale geothermal energy offerings as it pushes one of the bigger US clean-energy listings.
Backed by Bill Gates, can Fervo's costly geothermal drilling ever become a profitable energy source?
Can Fervo's geothermal tech scale fast enough to power America's energy-hungry AI data centers?
As Fervo drills for clean energy, what are the hidden seismic risks for local communities?