Forgent Power Solutions prices public offering at $29.50 per share

Forgent Power Solutions Inc. (NYSE: FPS) announced the pricing of a public offering of Class A common stock at $29.50 per share. The offering includes 20,688,874 shares from selling stockholders controlled by Neos Partners LP and 9,311,126 shares from the company.

The underwriters received a 30-day option to purchase up to an additional 3,027,921 shares from the selling stockholders and 1,472,079 shares from Forgent at the public offering price, minus underwriting discounts and commissions.

Forgent will not receive proceeds from the selling stockholders' share sales. The company plans to use its net proceeds to redeem interests in an operating subsidiary held by existing equity owners controlled by Neos Partners LP. The operating subsidiary will cover all offering expenses.

The offering is scheduled to close on March 30, 2026, subject to customary closing conditions. A registration statement on Form S-1 was declared effective by the Securities and Exchange Commission on March 26, 2026.

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

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.

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