Forgent Power Solutions Announces Pricing 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 pricing of the initial public offering of its Class A common stock at a public offering price of $27.00 per share. 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 addition, the Selling Stockholders and the Company granted the underwriters a 30-day option to purchase up to an additional 5,912,036 shares and 2,487,964 shares, respectively, of Class A common stock at the initial public offering price, less underwriting discounts and commissions.Forgent will not receive any proceeds from the sale of shares by the Selling Sto
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