Semiconductor equipment provider Nextest Systems sets terms

Nextest Systems, a provider of automated test equipment for semiconductor manufacturers, assembly and test providers, and wafer fabrication foundries, announced Thursday evening that it will offer 5.4 million shares at a range of $14 to $16. Insiders plan to sell 1.4 million of the total shares. Assuming the stock prices at the midpoint, the company will have an initial market capitalization of $291 million. Merrill Lynch, SG Cowen and Needham & Co. are the underwriters on the deal. Timing has yet to be determined.