** Shares of Forgent Power Solutions FPS.N down 2.2% before the bell to $48.73 after secondary offering news

** Minnesota-based maker of electrical distribution equipment used in data centers late Tues announced 35 mln share offering

** Private equity firm Neos Partners to offload ~23.7 mln shares, and FPS to use net proceeds it receives from sale of ~11.3 mln shares to indirectly purchase shares from Neos

** Goldman Sachs, Jefferies and Morgan Stanley are joint lead bookrunners

** Neos had reduced its stake in Mar secondary offering

** Prior to this offering, Neos owned ~67.5% of co's ~304.4 mln total shares outstanding, per the prospectus

** FPS went public in Feb IPO priced at $27

** 8 of 9 analysts rate the stock "strong buy" or "buy", 1 "hold"; median PT $51, per LSEG data