Forgent Power Solutions prices public offering at $49 per share

Forgent Power Solutions, Inc. (NYSE: FPS), a designer and manufacturer of electrical distribution equipment, has priced an upsized public offering of its Class A common stock at $49.00 per share, according to a company statement.

The offering consists of 29,094,075 shares being sold by parent entities controlled by Neos Partners, LP, and 14,555,925 shares being sold by Forgent. The underwriters were also granted a 30-day option to purchase up to an additional 4,364,090 shares from the selling stockholders and 2,183,410 shares from Forgent at the public offering price, less underwriting discounts and commissions.

Forgent will not receive proceeds from the shares sold by the selling stockholders. Net proceeds from Forgent's portion of the offering will be used to redeem interests in an operating subsidiary held by existing equity owners controlled by Neos Partners, LP.

The offering is expected to close on July 6, 2026, subject to customary closing conditions. A registration statement on Form S-1 was declared effective by the Securities and Exchange Commission on July 1, 2026.

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

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