The selling stockholders and Forgent Power have provided the underwriters a 30-day option to buy up to an additional 5.9 million shares and 2.5 million shares, respectively, the company said.

Forgent said it will not receive proceeds from the sale of shares by selling stockholders, and will use the net proceeds it receives from the sale of its shares to redeem interests in an operating unit held by certain current equity owners controlled by Neos.

The designer and producer of electrical distribution equipment said it anticipates its shares to start trading on the New York Stock Exchange under the "FPS" ticker on Thursday, and the offering is expected to close on Friday.

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