STR Holdings Sets IPO Terms

STR Holdings Inc., an Enfield, Conn.-based maker of solar power module encapsulants, has set its IPO terms to 12.3 million common shares being offered at between $13 and $15 per share. It would have an initial market cap of approximately $620 million, were it to price at the high end of its range. The company plans to trade on the NYSE under ticker symbol STRI, while Credit Suisse and Goldman Sachs serving as co-lead underwriters.

DLJ Merchant Banking Partners is STR’s majority shareholder, while Northwestern Mutual Life Insurance Co. also is a major holder.