BUZZ-Fervo Energy set to debut above offer price after upsized $1.89 bln IPO

Fervo Energy Company Class A

Fervo Energy Company Class A

FRVO

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** Geothermal energy developer Fervo Energy FRVO.O on track to open above offer price in New York debut

** Stock recently indicated to open at $40 apiece vs $27 IPO price

** Houston, Texas-based FRVO sold 70 million shares in an upsized IPO above latest marketed range of $25 to $26 apiece to raise $1.89 billion

** Launched in 2017, FRVO delivers carbon-free power through large-scale deployment of enhanced geothermal systems

** Energy demand in the U.S. has risen steeply in recent years, underpinned by the artificial intelligence boom

** AI-linked offerings have been at forefront ​of IPO market this year as investors pile into red-hot sectors

** J.P. Morgan, BofA Securities, RBC Capital Markets, and Barclays were joint lead bookrunning managers


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