Tornier, a global medical device company that supplies replacement joints to extremity surgeons, announced terms for its IPO on Tuesday. The Netherlands-based company plans to raise $175 million by offering 8.75 million shares at a price range of $19-$21. At the mid-point of the proposed range, Tornier will command a market value of $766 million. Tornier, which was founded in the 1940s and booked $223 million in sales for the 12 months ended October 3, 2010, plans to list on the NASDAQ under the symbol TRNX. BofA Merrill Lynch and J.P. Morgan are the lead underwriters on the deal, which is expected to price during the week of January 31.
