Cellu Tissue Holdings, a North American producer of private label and value retail tissue products, announced terms for its IPO on Thursday. The Alpharetta, GA-based company plans to raise $125 million by offering 7.8 million shares at a price range of $15-$17. At the mid-point of the proposed range, Cellu Tissue will command a market value of $306 million. The tissue company, which was founded in 1984 and booked $528 million in sales over the last 12 months, plans to list on the NYSE under the symbol CLU. Net proceeds will be used to repay $29 million of existing debt. Goldman Sachs and J.P. Morgan are the lead underwriters on the deal. Cellu Tissue is the fourth company tentatively scheduled to price on Thursday, Jan. 21, in addition to Symetra Financial (SYA), Terreno Realty (TRNO) and Andatee China Marine Fuel (AMCF).
