Forgent Power Solutions Inc. and some of its shareholders are offering to sell 30 million shares in total. This offering comes less than two months after the electrical equipment company's initial public offering (IPO). Among the sellers, stockholders affiliated with Neos Partners are offering 20.7 million Forgent shares, while the company itself is selling 9.31 million shares, according to a filing with the US Securities and Exchange Commission on Tuesday.
Based on Tuesday's closing price of $35.78 per share, this offering would raise approximately $1.07 billion. This move follows a successful IPO in February 2026, where Forgent and its backers raised $1.5 billion, pricing shares at $27 each. The stock subsequently closed at $29 on its first day of trading, marking a 7.4% increase from its IPO price.
The timing of this secondary offering is notable, occurring less than two months after the IPO. Forgent's shares have experienced a significant surge, effectively doubling in value since their initial public offering. Earlier reports indicated that Forgent was seeking to raise as much as $1.62 billion in its IPO, offering 56 million shares at a price range of $25 to $29 each.
