NEW YORK, June 4, 2026, 15:04 (EDT)
- Forgent Power shares rose 7.6% to $64.32 in afternoon trading, putting the stock about 37% higher than this week’s $47 public offering price.
- Forgent’s offering came to 48.6 million Class A shares. The stock was sold by Forgent and parent entities controlled by Neos.
- Forgent Power Solutions, Inc. posted record bookings and backlog in its latest results, and new filings showed holders tied to Neos still owned over 112 million Class A shares after the sale.
Forgent Power Solutions Inc. shares surged Thursday, climbing far past the price set in its big public offering that wrapped up this week. The newly listed power equipment maker kept getting attention from investors focused on data-center infrastructure.
The stock gained $4.54, or 7.6%, to $64.32 by 2:49 p.m. EDT, having hit $64.72 earlier. About 5.6 million shares traded, according to the latest market data.
Forgent’s follow-on offering dropped a large chunk of stock into the market, just months after its IPO in February. A follow-on measure gives investors a sense of how much appetite there is for more shares. By mid-afternoon, Forgent traded about 37% above the $47 offering price.
Forgent said it sold 15,852,319 shares in the offering, while parent entities under Neos Partners sold 32,769,681 shares, including shares from the underwriters’ full option. The company said it got no proceeds from shares sold by selling stockholders. Proceeds from Forgent’s own shares went to redeem operating subsidiary interests from some Neos-controlled equity owners.
Ownership reports landed. In Form 4 filings, Neos-linked insiders reported selling 48,622,000 Class A shares at the offering price on June 1, net of underwriting fees. They reported holding 112,449,169 Class A shares directly after the sale.
Forgent makes electrical distribution gear for data centers, power grids and big industrial sites. Its equipment routes, transforms and controls electricity in large operations where outages are expensive.
Forgent’s pitch to investors has been all about orders. The company posted fiscal Q3 revenue of $379 million on May 14, a jump of 103% from last year. Bookings soared 308% to $867 million. Backlog climbed 157% to $1.98 billion. Backlog is orders not yet shipped.
“Demand for our products continues to outpace our expectations,” Chief Executive Gary Niederpruem said in the May results statement. Niederpruem pointed to manufacturing growth and demand in data-center and grid markets. Chief Financial Officer Ryan Fiedler said margins are still taking a hit from faster hiring and start-up costs at new sites, but said better production volumes should support adjusted EBITDA margin by the fourth quarter. Adjusted EBITDA is earnings before interest, tax, depreciation and amortization, with certain items stripped out. Forgent Power Solutions, Inc.
Forgent went public in February, with Reuters reporting it and selling shareholders moved 56 million shares at $27 apiece, raising around $1.51 billion. Forgent told Reuters its data center segment made up 42% of fiscal 2025 revenue, tying the stock to power needs driven by AI infrastructure. IPOX Research Associate Lukas Muehlbauer called the IPO pricing “healthy but disciplined investor demand.” Reuters
Forgent’s move ran contrary to other power-equipment stocks. Eaton dropped 0.4%, Vertiv lost 2.4%, and nVent slipped 0.7% during the same window. That suggests Forgent’s gain wasn’t just part of a group move in electrical-equipment names.
The setup isn’t solid. Neos-related holders are still sitting on a big chunk of the stock, and more selling could be a drag. On operations, Forgent said new-campus launch costs and quicker hiring are squeezing margins. Other risks flagged: weak equipment demand, higher material and labor bills, tariffs, supply chain headaches, and slower AI-linked data center projects.
