Electrical equipment company Pioneer Power Solutions sets terms for $8 million IPO

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Pioneer Power Solutions, which provides electrical equipment and services in the utility, industrial and commercial markets, announced terms for its IPO on Tuesday. The Fort Lee, NJ-based company plans to raise $7.5 million by offering 1.0 million shares at a price range of $7 to $8. At the midpoint of the proposed range, Pioneer Power Solutions would command a market value of $52 million.

Pioneer Power Solutions, which was founded in 1995 and booked $86 million in sales for the 12 months ended June 30, 2013, plans to list on the NASDAQ under the symbol PPSI. Roth Capital is the sole bookrunner on the deal.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines , IPOs

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