Aeroflex Holding, a microelectronics provider in the space, avionics, defense and commercial wireless markets, announced terms for its IPO on Friday. The Plainview, NY-based company plans to raise $250 million by offering 17.25 million shares at a price range of $13.50-$15.50. At the mid-point of the proposed range, Aeroflex will command a market value of $1.2 billion. Aeroflex, which was founded in 2007 and booked $655 million in sales for the 12 months ended June 30, had originally filed to raise as much as $500 million in its initial filing. The private equity-backed company plans to list on the NYSE under the symbol ARX. Goldman, Sachs & Co., Credit Suisse, J.P. Morgan and Morgan Stanley are the lead underwriters on the deal, which is expected to price during the week of November 15.
