NASDAQ:CNTA News 11 December 2025

February 5, 2026, 3:19 PM EST. Forgent Power Solutions completed a $1.5 billion initial public offering (IPO) on the New York Stock Exchange, pricing at $27 per share. The oversubscribed offering, led by Goldman Sachs, Jefferies, and Morgan Stanley, saw demand exceeding 15 times the shares available. Forgent, a maker of electrical distribution equipment crucial for AI data center construction, U.S. electric grid upgrades, and manufacturing onshoring, was valued at $8.6 billion. The company's backlog rose nearly 50% to $1.5 billion by year-end, with 40% from new clients like Brookfield Renewable and PG&E. Projected EBITDA growth to $520 million by 2027 justifies the 16x multiple paid. Private equity firm Neos Partners, which built Forgent through acquisitions and invested in manufacturing capacity, reduced its stake to 81.6% post-IPO. Shares traded 3% above offer on debut, reflecting strong market interest amid cautious pricing.