Fortress' SeaCube Container Leasing, which acquires and leases refrigerated containers, dry freight containers and generator sets, announced terms for its IPO on Tuesday. The Park Ridge, NJ-based company plans to raise $128 million by offering 7.5 million shares (5 million insider) at a price range of $16-$18. At the mid-point of the proposed range, SeaCube will command a market value of $324 million. SeaCube, which was founded in 2000 and booked $142 million in sales last year, plans to list on the NYSE under the symbol BOX. Fortress will continue to own a 58% stake in the company post-IPO, according to the S-1. J.P. Morgan, Citi and Deutsche Bank Securities are the lead underwriters on the deal, which is expected to price during the week of October 25.
