Fervo Energy IPO Pops 33% on Nasdaq

Fervo Energy debuted on Nasdaq at $36, a 33% jump over its $27 IPO price.
The Houston-based geothermal developer raised $1.89 billion by pricing 70 million Class A shares at $27 each, up from an originally planned 55.6 million shares.
Underwriters included JPMorgan Chase, Bank of America, Royal Bank of Canada and Barclays, and demand reached roughly 15‑times the supply.
Final pricing of $27 per share exceeded the $25‑$26 range, which itself had been raised from $21‑$24.