Fervo Energy Announces Pricing of its Upsized Initial Public Offering
Fervo Energy
May 12, 2026
Presidio Investment Holdings LLC has entered into a letter of intent to acquire producing assets in the Arkoma Basin from companies controlled by Vortus Investments for $80 million, subject to due diligence, definitive documentation, and closing conditions. The LOI contemplates a funding mix using cash on hand, proceeds from a recently announced Goldman Sachs ABS Warehouse Facility, and approximately $20 million of Presidio equity provided to the seller.
Presidio expects to negotiate definitive terms and sign and close in the second quarter of 2026. The company also expects its annual dividend to increase from $1.35 to $1.50 after closing, subject to board approval. The acquisition is described as part of Presidio’s activation of its acquisition strategy as a public company following its business combination with EQV.
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