Forgent Power finalizes full over-allotment option following its IPO, signaling strong investor demand and strengthening capital for future energy infrastructure growth.
Forgent Power Solutions, Inc. (NYSE: FPS), a U.S.-based designer and manufacturer of electrical distribution equipment, announced that the underwriters of its recent initial public offering (IPO) have exercised their full over-allotment option, bringing the total share count higher and completing the final phase of the offering.
Full exercise of over-allotment option
The underwriters purchased the entire additional allotment available under the IPO structure. This included 5,912,036 Class A shares sold by the existing parent entities controlled by Neos Partners, LP, along with 2,487,964 newly issued Class A shares from Forgent itself. All shares were sold at the IPO price of $27.00 per share, before underwriting discounts and commissions. The sale of these additional shares has now officially closed.
The IPO originally consisted of 39,413,573 shares offered by the selling stockholders and 16,586,427 shares issued directly by Forgent. With the over-allotment option exercised in full, the total offering expanded significantly, reflecting strong demand from investors and completing the final allocation process.
Use of proceeds
Forgent will not receive any proceeds from the shares sold by the existing stockholders. The funds generated from the shares issued directly by the company will be used to redeem interests in an operating subsidiary held by certain equity owners affiliated with Neos Partners. The operating subsidiary will also cover, or reimburse the company for, all offering-related expenses.
Underwriting and transaction details
Goldman Sachs & Co. LLC, Jefferies, and Morgan Stanley served as joint lead book-running managers for the offering. Additional bookrunners included JPMorgan, BofA Securities, and Barclays. Several other financial institutions—TD Cowen, MUFG, Wolfe | Nomura Alliance, KeyBanc Capital Markets, Oppenheimer & Co., and Stifel—participated as passive bookrunners.
The offering was conducted under a registration statement on Form S-1 that was declared effective by the U.S. Securities and Exchange Commission on January 28, 2026. As with all such offerings, the securities were made available only through the official prospectus, and the announcement does not constitute an offer to sell or solicit an offer to buy securities in any jurisdiction where such activity would be unlawful.
About Forgent Power Solutions
Forgent Power Solutions is a U.S. manufacturer specializing in electrical distribution equipment for data centers, power grids, and energy-intensive industrial facilities. The company focuses on engineered-to-order products designed for complex, technically demanding applications.
Its portfolio includes a wide range of customized electrical distribution solutions, and the company positions itself as one of the few manufacturers capable of supplying the full suite of electrical equipment required for a data center or large industrial facility powertrain. Forgent emphasizes high levels of customization, fast lead times, and integrated manufacturing capabilities to serve customers in sectors where reliability, scalability, and performance are critical.
The successful completion of the IPO and the full exercise of the over-allotment option mark a significant milestone for Forgent, providing additional capital flexibility and strengthening its financial structure as it continues to expand in data center, grid, and industrial power markets.
