News Summary

• Fervo Energy said Monday it hopes to raise up to $1.3 billion in its initial public offering.
• The company would be valued at $6.5 billion if shares sell at the top of its $21 to $24 price target.
• The stock will trade on Nasdaq under the ticker FRVO.
• Fervo's price target comes on the heels of X-energy’s successful IPO.
• The nuclear power startup raised $1 billion in an upsized IPO.