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.
