Forgent Power Solutions Announces Closing of Initial Public Offering
Forgent Power Solutions, Inc. Class A (FPS)
Company Research
Source: Business Wire
DAYTON, Minn.--(BUSINESS WIRE)--Forgent Power Solutions, Inc. (“Forgent” or the “Company”), a leading designer and manufacturer of electrical distribution equipment used in data centers, the power grid and energy-intensive industrial facilities, today announced the closing of the initial public offering of its Class A common stock. The offering consists of 39,413,573 shares of Class A common stock being offered by parent entities of the Company controlled by Neos Partners, LP (the “Selling Stockholders”) and 16,586,427 shares of Class A common stock being offered by Forgent, in each case at an initial public offering price of $27.00 per share, less underwriting discounts and commissions.Forgent will not receive any proceeds from the sale of shares by the Selling Stockholders and the net proceeds Forgent receives 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. The operati
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