Fervo Energy (FRVO) priced 70M shares at $27.00. The deal priced above the $25.00-$26.00 target range. JPMorgan, BofA, RBC Capital and Barclays are acting as joint book running managers for the offering. Fervo Energy offers large-scale deployment of geothermal systems that it says combines the application of horizontal drilling, fiber-optic sensing, and advanced reservoir engineering with “an innovative approach to power systems engineering.”
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