Forgent, Backer Offer Stock After Price Doubles Since IPO

Forgent, Backer Offer Stock After Price Doubles Since IPO Forgent Power Solutions Inc. and its private equity backer Neos Partners LP are offering to sell about 35 million shares, marking the third stock sale since the power distribution equipment maker went public in February. The offering of 23.3 million shares by affiliates of Neos and 11.7 million by Forgent is scheduled to price late Wednesday, according to people familiar with the offering, who asked not to be identified because the information is private. Forgent will use the proceeds to redeem equity interests in an operating partnership from Neos affiliates, which will therefore collect all the net proceeds from the sale, according to a statement.