Bank of America Co-Leads Fervo Energy’s IPO and Authorizes Preferred Dividends up to $1,107.99
Bank of America will co-lead the underwriting for Fervo Energy’s Nasdaq IPO, alongside JPMorgan, RBC and Barclays. Its board also authorized May and June dividends on ten preferred stock series, with per-share payouts from $0.26355 to $1,107.99178 and record dates between April 30 and June 1.
1. Co-Leading Fervo Energy IPO
Bank of America is part of a top-tier syndicate, alongside JPMorgan, Royal Bank of Canada and Barclays, underwriting Fervo Energy’s planned Nasdaq listing under the ticker FRVO. Fervo reported a net loss of $70.5 million in fiscal 2025 and is constructing a 500 MW geothermal project in Utah, with power delivery slated for late this year.
2. Preferred Stock Dividends Declared
The board approved cash dividends for ten series of preferred stock, including $0.26355 per share for Series E and $1,107.99178 for Series F and G. Record dates span April 30 to June 1, with payment dates from May 15 through June 25.