Forgent Power Solutions Inc. has priced its initial public offering at $27.00 per share, the company announced in a statement. The deal is composed of a large block of shares being sold by existing stockholders controlled by Neos Partners, LP, together with a separate allocation of shares coming directly from Forgent.
Specifically, selling stockholders controlled by Neos Partners will offer 39,413,573 shares, while Forgent is selling 16,586,427 shares. As part of the arrangement, the underwriters have been granted a 30-day option to buy up to an additional 8,400,000 shares in aggregate from both the selling stockholders and Forgent.
Forgent will not derive any proceeds from the shares being sold by the selling stockholders. The company has stated that net proceeds from the offering that it does receive will be used to redeem interests in an operating subsidiary that are currently held by existing equity owners controlled by Neos Partners, LP.
The Securities and Exchange Commission declared Forgent's registration statement on Form S-1 effective on January 28, 2026. Subject to customary closing conditions, the company's shares are expected to begin trading on the New York Stock Exchange on February 5, 2026, under the ticker symbol "FPS," and the offering is anticipated to close on February 6, 2026.
Investment banks leading the transaction include Goldman Sachs & Co. LLC, Jefferies and Morgan Stanley, which serve as joint lead book-running managers. Additional bookrunners named in the filing are J.P. Morgan, BofA Securities and Barclays. A group of passive bookrunners listed in the statement includes TD Cowen, MUFG, Wolfe | Nomura Alliance, KeyBanc Capital Markets, Oppenheimer & Co. and Stifel.
Forgent is headquartered in Dayton, Minnesota. The company manufactures electrical distribution equipment that serves customers across data centers, power grid infrastructure and energy-intensive industrial facilities.
Contextual note: The company has completed the regulatory step of having its S-1 declared effective by the SEC, and the timeline provided in the statement establishes key milestones for the pricing, trading commencement and expected closing, all of which remain subject to customary conditions outlined by the underwriters and company.