Tower International, which provides structural metal components, assemblies and solar panels for auto equipment manufacturers, announced terms for its IPO on Monday. The Livonia, MI-based company plans to raise $100 million by offering 6.25 million shares at a price range of $15-$17. At the mid-point of the proposed range, Tower International will command a market value of $299 million. Tower International, which was founded in 1993 and booked $1.9 billion in sales for the 12 months ended June 30, plans to list on the NYSE under the symbol TOWR. Goldman, Sachs & Co., Citi and J.P. Morgan are the lead underwriters on the deal, which is expected to price during the week of October 11.
