Forgent Power Solutions completes over-allotment option exercise

Forgent Power Solutions Inc. (NYSE: FPS) announced that underwriters have fully exercised their over-allotment option in connection with the company's initial public offering, according to a press release statement.

The underwriters purchased an additional 8.4 million shares at $27.00 per share, less underwriting discounts and commissions. The additional shares consisted of 5.9 million shares from selling stockholders and 2.5 million shares from Forgent. The transaction closed today.

The original IPO included 39.4 million shares offered by parent entities controlled by Neos Partners, LP and 16.6 million shares offered by Forgent.

Forgent will not receive proceeds from shares sold by the selling stockholders. The company stated it will 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.

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.

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