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Forgent launches follow-on offering to capitalize on high data center demand
Wednesday, March 25, 2026 at 11:59 AM
Following its initial public offering last month, data center infrastructure provider Forgent is launching a follow-on offering to capitalize on sustained high demand for data center exposure.
Context
On March 24, 2026, electrical infrastructure provider Forgent Power Solutions announced a follow-on public offering of 20,688,335 shares of Class A common stock. This move comes only one month after the company's February 5, 2026 initial public offering on the NYSE, where it originally listed at $27.00 per share. The stock has seen strong momentum since its debut, trading up approximately 33% as investors look to capitalize on the massive demand for data center power equipment and AI-driven grid modernization.
Forgent, which is backed by Neos Partners, specializes in custom-engineered electrical distribution hardware, including switchgear and transformers. Analysts at Goldman Sachs recently initiated coverage with a buy rating and a $48 price target, highlighting the company's ability to manufacture the entire electrical powertrain internally. With an addressable market projected to grow 17.5% annually, Forgent is utilizing this capital raise to expand its manufacturing footprint and support up to $5 billion in annual sales.
Sources (7)
S-1Forgent — Solutions for the power infrastructure of the futureBuy this power infrastructure stock as data center demand pick up, says Goldman SachsForgent Power Solutions, Inc.Forgent Power Solutions Announces Public Offering of ...Forgent ($FPS) IPO: The Infrastructure Company Behind Data Center PowerForgent's IPO is 'bringing sexy back' to the electrical equipment ...
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