Core Viewpoint - Forgent Power Solutions, Inc. has launched a roadshow for its initial public offering (IPO) of Class A common stock, offering a total of 39,413,177 shares from selling stockholders and 16,586,823 shares from the company itself [1][2]. Group 1: IPO Details - The IPO price is expected to range between $25.00 and $29.00 per share, with a registration statement filed with the SEC [3]. - The company has applied to list its Class A common stock on the New York Stock Exchange under the ticker symbol "FPS" [3]. - The underwriters will have a 30-day option to purchase additional shares, totaling up to 5,911,977 shares from selling stockholders and 2,488,023 shares from the company [1]. Group 2: Use of Proceeds - Forgent will not receive proceeds from the sale of shares by selling stockholders; however, it will use the net proceeds from its own shares to redeem interests in an operating subsidiary held by existing equity owners [2]. Group 3: Company Overview - Forgent is a leading designer and manufacturer of electrical distribution equipment for data centers, the power grid, and energy-intensive industrial facilities, specializing in custom-engineered products [7]. - The company claims to be one of the few capable of manufacturing all necessary electrical distribution equipment for data centers or large manufacturing facilities with high customization and short lead times [7].
Forgent Power Solutions Announces Launch of Initial Public Offering