Form Energy Stock: Will there be an IPO?
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Table of Contents
Notable Form Energy News
10/09/2024: Form Energy Secures $405M in Series F
09/20/2024: DOE Selects Form Energy for $150M WV Battery Factory
08/15/2024: Form Energy set to build world’s biggest battery in Maine
06/13/2023: Form Energy to Supply Batteries to GA Power
Older news…
About Form Energy
Form Energy is an iron-air battery startup working on a cost-effective energy storage solution for power grids. They are commercializing a new class of multiday energy storage systems, enabling a reliable and climate-friendly electric grid year-round.
Iron and air are two of the most abundant elements on Earth.
Iron-air batteries were first experimented with in the 1960s but didn’t have a practical application. Today, and in the green energy future, iron-air batteries can store excess energy from the day to power homes at night.
The technology enables 24/7 green energy using an alternative method than geothermal energy startups. Iron-air batteries are also 10 times cheaper than lithium batteries. They are modular, scalable, safe, and last longer too.
However, they are larger, making the technology not applicable to portable electronics.
Career energy storage engineers with deep ties with Tesla and MIT founded the startup.
Form Energy began construction of its first commercial manufacturing plant in Weirton, WV, in May 2023.
Here’s a video of cofounder Billy Woolford describing the technology at the Form Energy facility in Somerville, MA.
Ownership
Form Energy is a venture-backed startup. Equity owners include founders, employees, and venture capital firms.
The company’s latest funding round was a Series E completed in October 2022. It raised $450 million in the round to bring its total funding to about $920 million.
Prominent venture capital investors include T.Rowe Price, ArcelorMittal, Blindspot Ventures, Breakthrough Energy Ventures (Bill Gates), Canada Pension Plan Investment Board, Capricorn Investment Group, Coatue, Energy Impact Partners, Eni Next, GIC (Singapore), Macquarie, NGP Energy Technology Partners, Perry Creek, Prelude Ventures, Temasek, The TPG Rise Fund, The Engine (MIT), and VamosVentures.
Funding Rounds
Round | Date | Est. Valuation | Raise Amount | Price |
---|---|---|---|---|
Series F | 10/09/24 | $3.42B | $405.00M | $ 24.18 |
Series E | 10/03/22 | $1.95B | $450.00M | $ 18.38 |
Series D | 08/23/21 | $1.44B | $240.00M | $ 18.10 |
Series C | 09/10/20 | $376.00M | $76.00M | $ 6.33 |
Series B | 08/06/19 | $115.00M | $40.00M | $ 3.10 |
Series A | 06/11/18 | $25.00M | $9.00M | $ 1.26 |
Seed Round | 09/17/17 | $12.00M | $2.00M | $ 1.32 |
Source: Caplight |
Valuation
The December 2022 Series E funding round established the Form Energy valuation to be an estimated $2.0 billion.
IPO Potential
The Form Energy IPO date is unknown.
The company raised nearly half a billion dollars in its October 2022 Series E funding round, giving it substantial capital to build its first manufacturing plant at the former Weirton Steel site in West Virginia.
It has begun to secure orders from power companies, including Georgia Power (a subsidiary of Southern Company). Once the manufacturing plant is complete and Form Energy is filling orders for customers, the likelihood of an IPO will increase if broader IPO conditions are favorable.
The company may need to raise an additional private funding round to build another manufacturing plant or may raise private funds to increase its valuation before an IPO.
The success of the Cava IPO in June 2023 has reignited interest in IPOs. But we expect other green energy companies to IPO before the Form Energy IPO.
Bookmark this page for the latest developments.
How to Invest in Form Energy Stock
Since Form Energy is a private company, it is challenging to become an equity owner today, especially at its current valuation.
However, you can take action to improve your chances of early equity ownership or acquire shares later during the IPO.
Here are three possible ways to acquire shares before and after an IPO.
1. Access Shares on Pre-IPO investing platforms
The author has yet to see evidence of Form Energy stock availability on pre-IPO investing platforms.
This is typical for companies with valuations below $5 billion. As the valuation increases, so does early investor appetite for pre-IPO liquidation.
Shares may become available if early investors or employees want to cash out before an IPO if that ever occurs.
Check out our list of top pre-IPO investing platforms for current share availability.
Accredited investors can watch pre-IPO investing platforms such as Hiive, Forge Global, Linqto, and EquityZen for Form Energy share availability.
If shares become available, expect to pay at least a $10,000 investment minimum. Signing up for online access to pre-IPO data and deal alerts is free.
Non-accredited retail investors can bypass the accreditation requirement to own pre-IPO companies by owning the Fundrise Innovation Fund or the ARK Venture Fund.
However, you cannot select individual pre-IPO companies, and Form Energy stock is not in either portfolio at this time.
As companies mature, gain more shareholders, and delay their IPO due to macro conditions, more equity holders may seek liquidation before the IPO.
Please note: This is a testimonial in partnership with Fundrise. We earn a commission from partner links on AccessIPOs.com. All opinions are my own.
2. Participate in the Form Energy IPO through a broker
The Form Energy IPO may be multiple years away.
When the time comes, or if investors are interested in other, more immediate IPOs, there are ways to position yourself to participate in IPOs if the strategy can help you meet your investment objectives.
But it takes some upfront homework. IPO access has become more attainable to retail investors in the past few years.
The following online brokers give customers free IPO access with low account balances:
Brokers negotiate with underwriters to acquire share allocations to make available to retail investors.
TradeStation and Webull have a longer track record of accessing more than 350 IPOs and secondary offerings via their partnership with ClickIPO.
But Robinhood has the advantage of Silicon Valley networks and a history of getting allocations for high-profile IPOs.
Check out this list of best brokers for IPO investing to learn more about IPO access for retail investors.
3. Buy Form Energy stock after the Form Energy IPO
Waiting for the IPO requires patience. Form Energy’s IPO may be years away. Public companies thrive best when they are scaling production and growing revenue.
But there are advantages to waiting until after the IPO before owning stocks.
IPOs allow investors to review financials via the S-1 filing. Pre-IPO investing has limited financials available.
IPO stock prices typically rise with high-demand companies. You can benefit if you’re in early and sell when the price overheats.
Stock price declines after IPOs can be excellent entry points.
Avoid buying overvalued shares immediately after the IPO. Shares often fall after the IPO due to lockup expirations and quarterly earnings disappointments.
Frequently Asked Questions (FAQs)
Is Form Energy Stock publicly traded?
No. Form Energy is a private company.
What is the Form Energy stock price?
There is no public Form Energy stock price yet. The company is private.
The late 2022 funding round priced at $18.38 per share.
What is the Form Energy stock symbol?
Form Energy is a private company and is expected to stay that way for at least a few more years. There is no Form Energy stock symbol yet.
Companies release their stock symbols along with their public S-1 SEC filings.
Here is one potential Form Energy ticker suggestion that is available in the U.S.:
- FRM
FORM, FRME, and FERG are all taken.
Where is the Form Energy S-1 Filing?
Form Energy will likely start the IPO process when it is generating predictable revenue, which may take a few years after its first manufacturing plant is up and running.
When the company is earning and ready to scale further, an IPO may be an efficient way to raise capital for another manufacturing plant.
If Form Energy submits an S-1 filing and releases it to the public, we’ll post it here.
In the meantime, you can check out the most recent S-1 filings in our S-1 filings feed.
Form Energy News Archive
05/27/2023: Form Energy celebrates the beginning of construction
04/26/2023: NOVA: Chasing Carbon Zero (min 32:40)
01/17/2023: Iron-Air Batteries Are Here and May Alter the Energy Future
10/04/2022: Form Energy Announces $450M Series E Financing
08/24/2021: Form Energy Closes Series D
11/13/2020: Form Energy nabs $70 million in funding
08/19/2019: Form Energy closes Series B
Conclusion
Retail investors get excited about extraordinary technologies and scientific breakthroughs in battery storage.
However, buying shares before the public offering is often difficult, especially in the scaling-up stages of a capital-intensive industrial business such as Form Energy.
Though pre-IPO investing platforms have opened more opportunities, private venture capital investing is still primarily reserved for accredited investors because of the added risk.
Form Energy is nearly revenue generation and has a valid business model in the works. Its Series E funding round confirms the viability of the model. Yet, the Form Energy IPO may still be years away.
If Form Energy stock is on your radar, be patient. We may be multiple years away from ownership opportunities. Pre-IPO availability should increase if there is another private funding round or wait for the IPO. However, the longer you Invest in pre-IPO and IPO companies with caution.
* Disclosure: The web page contains affiliate links from our partners. If a reader opens an account or buys a service from a link in this article, we may be compensated at no additional cost to the reader. Opening an account with a broker that provides access to IPOs does not guarantee the customer allocations of specific IPOs. The author is long HOOD, the Fundrise Innovation Fund, and the ARK Venture Fund.
Craig Stephens is a former IT professional who left his 19-year consulting career at the IRS to be a full-time finance writer. A DIY investor since 1995, he started Access IPOs in 2016 to provide a resource for ordinary investors pursuing access to IPOs. Craig studied Finance at Michigan State University and lives in Northern Virginia with his wife and three children. Learn more about Craig.