FPS News & Events

Markets reopened following the holiday weekend with renewed optimism that negotiators in the U.S.-Iran war are making progress, sending Crude Oil prices and Treasury yields lower and broader indices higher.  Basic Materials and Industrials were the best performing sectors in the S&P 500, while Energy was the worst as WTI Crude Oil fell over 3% below $94 per barrel.  Demand for AI-capex-linked Tech names also remained strong as the bid in memory stocks remained unrelenting - Micronjoined the trillion-dollar-market-cap club with a 20% jump, followed by On Semi, Teradyne, and Western Digital, whose shares were up 8%-9%.In the opening hour of the evening session, index futures are little changed.  S&P 500 is just shy of 7,540, Nasaq 100 is above 30,000 and Dow Industrials - the lone index to finish Tuesday in the red due to declines in all of its Healthcare components - is just above 50,550.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -Semtechup 7.0%Oomaup 2.4%Modine Manufacturingup 1.7%DOWN AFTER EARNINGS -Zscalerdown 19.4%Transcatdown 3.0%Box, Inc.down 1.7%ALSO LOWER -Verra Mobilitydown 42.7% after termination of agreement notice from Avis BudgetSOLV Energydown 7.8% after equity offeringGlobalFoundriesdown 6.6% after block saleInsuletdown 6.2% after initiating voluntary medical device correction for certain Omnipod lotsFirefly Aerospacedown 5.3% after equity offeringForgent Power Solutionsdown 4.7% after equity offering

Forgent Power Solutions announced a public offering of its Class A common stock. The offering consists of 23,741,398 shares of Class A common stock being offered by parent entities of the company controlled by Neos Partners, and 11,258,602 shares of Class A common stock being offered by Forgent. Forgent will not receive any proceeds from the sale of shares by the Selling Stockholders and the net proceeds Forgent receives from the sale of its shares will be used to redeem interests in an operating subsidiary held by certain existing equity owners controlled by Neos Partners, LP. The operating subsidiary will bear or reimburse the company for all of the expenses of the offering. Goldman Sachs & Co., Jefferies and Morgan Stanley are acting as joint lead book-running managers for the proposed offering. J.P. Morgan, BofA Securities and Barclays are acting as bookrunners for the proposed offering.

Forgent Power Solutions announced that on May 21, 2026 it repriced its revolving credit facility and term loan credit facility. Upon closing of the repricing, the applicable interest rate on borrowings under the Senior Credit Facilities will be reduced from SOFR plus 300 basis points to SOFR plus 225 basis points. This reduction is expected to result in interest savings on the initial term loan facility of approximately $4.5M annually. The Company expects that all other material terms of the Senior Credit Facilities, including the maturity dates and financial covenants, will remain unchanged upon the closing of the repricing. The repricing and related closing are subject to customary closing conditions, and the Company expects closing to occur in late June 2026.