Core Viewpoint - Forgent Power Solutions, Inc. has announced the pricing of its initial public offering (IPO) at $27.00 per share, with a total of 39,413,573 shares offered by selling stockholders and 16,586,427 shares offered by the company itself [1]. Group 1: IPO Details - The IPO consists of 39,413,573 shares of Class A common stock offered by parent entities controlled by Neos Partners, LP, and 16,586,427 shares offered by Forgent [1]. - The underwriters have been granted a 30-day option to purchase an additional 5,912,036 shares from selling stockholders and 2,487,964 shares from the company at the IPO price [1]. - The shares are expected to begin trading on February 5, 2026, under the ticker symbol "FPS," with the closing of the offering anticipated on February 6, 2026 [3]. Group 2: Use of Proceeds - Forgent will not receive any proceeds from the sale of shares by the selling stockholders; however, the net proceeds from the sale of its shares will be used to redeem interests in an operating subsidiary held by certain existing equity owners controlled by Neos Partners, LP [2]. Group 3: Company Overview - Forgent is a leading designer and manufacturer of electrical distribution equipment used in data centers, the power grid, and energy-intensive industrial facilities [7]. - The company specializes in manufacturing custom products that are "engineered-to-order" for technically demanding applications, positioning itself as one of the few companies capable of providing all necessary electrical distribution equipment for data centers or large manufacturing facilities with high levels of customization and short lead times [7].
Forgent Power Solutions Announces Pricing of Initial Public Offering