Forgent Power Solutions closes over-allotment option at $27 per share

Forgent Power Solutions Inc. (NYSE: FPS) announced that underwriters exercised in full their over-allotment option in connection with the company's initial public offering, purchasing an additional 8.4 million shares at $27.00 per share.

The over-allotment consisted of 5,912,036 shares sold by parent entities controlled by Neos Partners, LP and 2,487,964 shares offered by Forgent. The transaction closed today, according to a company statement.

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

The over-allotment follows Forgent's completed initial public offering of 56 million shares, which included 39,413,573 shares offered by selling stockholders and 16,586,427 shares offered by the company.

Goldman Sachs & Co. LLC, Jefferies and Morgan Stanley served as joint lead book-running managers for the offering. 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 January 28, 2026.

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 technical applications.

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