IPO Journey
Forgent Power Solutions, Inc.
IPO Date: June 1, 2026 · 8 filings tracked
Final Offer Terms
Ticker
FPS
Exchange
New York Stock Exchange
Offer Price
$47.00
Shares Offered
42,280,000
Estimated Proceeds
$2.0B
Underwriters
Led by Goldman Sachs & Co. LLC, Jefferies
Morgan StanleyJ.P. MorganBofA SecuritiesBarclaysTD CowenMUFGWolfe | Nomura AllianceKeyBanc Capital MarketsOppenheimer & Co.Stifel
Filing Timeline
1
S-1
January 9, 2026
- Rapid revenue growth of 56% year-over-year to $1 billion in 2025.
- Strategic positioning in the high-demand AI and data center infrastructure market.
2
S-1/A
January 16, 2026
- Dual-revenue model combining hardware sales with recurring software subscriptions
- Focus on high-growth smart energy management and grid modernization
Changes from previous filing
- ▸ Ticker symbol removed
3
S-1/A
January 26, 2026
- Rapid 56% year-over-year revenue growth driven by AI and data center demand
- Strong $1 billion order backlog indicating high future revenue visibility
Changes from previous filing
- ▸ Ticker symbol: FPS
- ▸ Exchange: New York Stock Exchange
- ▸ Expected offer range: $25.0 – $29.0 per share
- ▸ Shares offered: 56,000,000
- ▸ Estimated proceeds: $1400M
- ▸ Underwriters: Goldman Sachs & Co. LLC, Jefferies, Morgan Stanley, J.P. Morgan, BofA Securities, Barclays, TD Cowen, MUFG, Wolfe | Nomura Alliance, KeyBanc Capital Markets, Oppenheimer & Co.
4
424B4
Material Update
February 6, 2026
- Strong financial performance with $842M revenue and $94M profit in FY2025.
- Strategic positioning to capitalize on the AI and data center infrastructure boom.
Changes from previous filing
- ▸ Price range removed
- ▸ Final offer price: $27.0 per share
- ▸ Estimated proceeds: $1512M
- ▸ Underwriters: Goldman Sachs & Co. LLC, Jefferies, Morgan Stanley, J.P. Morgan, BofA Securities, Barclays, TD Cowen, MUFG, Wolfe | Nomura Alliance, KeyBanc Capital Markets, Oppenheimer & Co., Stifel
5
S-1
March 24, 2026
- Rapid revenue growth of 56% year-over-year
- Significant $1.5 billion backlog of signed contracts
Changes from previous filing
- ▸ Ticker symbol removed
6
424B4
Material Update
March 30, 2026
- Rapid growth with 56% year-over-year revenue increase
- Significant $1.5 billion order backlog providing revenue visibility
Changes from previous filing
- ▸ Ticker symbol: FPS
- ▸ Exchange: New York Stock Exchange
- ▸ Final offer price: $29.5 per share
- ▸ Shares offered: 30,000,000
- ▸ Estimated proceeds: $885M
- ▸ Underwriters: Goldman Sachs & Co. LLC, Jefferies, Morgan Stanley, J.P. Morgan, BofA Securities, Barclays, TD Cowen, MUFG, Wolfe | Nomura Alliance, KeyBanc Capital Markets, Oppenheimer & Co., Stifel
7
S-1
May 26, 2026
- Rapid engineering capabilities delivering custom power solutions in as little as a week.
- Strong market tailwinds driven by AI data center demand and grid modernization.
Changes from previous filing
- ▸ Ticker symbol removed
424B4
Final Pricing
June 1, 2026
- Critical infrastructure provider for the AI and data center boom
- Rapid delivery model (as little as one week) solves industry bottlenecks
Changes from previous filing
- ▸ Ticker symbol: FPS
- ▸ Exchange: New York Stock Exchange
- ▸ Final offer price: $47.0 per share
- ▸ Shares offered: 42,280,000
- ▸ Estimated proceeds: $1987M
- ▸ Underwriters: Goldman Sachs & Co. LLC, Jefferies, Morgan Stanley, J.P. Morgan, BofA Securities, Barclays, TD Cowen, MUFG, Wolfe | Nomura Alliance, KeyBanc Capital Markets, Oppenheimer & Co., Stifel
Disclaimer: AI-generated analysis for informational purposes only. Not financial advice. Always conduct your own research.