Forgent Power Solutions closes $2.3 billion public stock offering

Forgent Power Solutions Inc. (NYSE: FPS) completed a public offering of 48.6 million shares of Class A common stock at $47.00 per share, the company announced. The offering generated approximately $2.3 billion in gross proceeds.

The transaction included 32.8 million shares sold by parent entities controlled by Neos Partners, LP, and 15.9 million shares sold by Forgent. Underwriters exercised their option to purchase an additional 6.3 million shares in full.

Forgent did not receive proceeds from shares sold by the selling stockholders. The company used its net proceeds to redeem interests in an operating subsidiary held by existing equity owners controlled by Neos Partners, LP.

Goldman Sachs & Co. LLC, Jefferies and Morgan Stanley served as joint lead book-running managers. J.P. Morgan, BofA Securities and Barclays acted as bookrunners, while TD Cowen, MUFG, Wolfe | Nomura Alliance, KeyBanc Capital Markets, Oppenheimer & Co. and Stifel served as passive bookrunners.

The Securities and Exchange Commission declared the registration statement on Form S-1 effective on May 28, 2026, according to the press release.

Forgent designs and manufactures electrical distribution equipment for data centers, power grids and energy-intensive industrial facilities. The Dayton, Minnesota-based company specializes in custom "engineered-to-order" products for technically demanding applications.

You May Also Be Interested In

• BNY prices $500M preferred stock depositary share offering
• VivoSim Labs prices $4M private placement at $0.85 per share
• Regenxbio plans $100M common stock public offering