CPI International, a provider of microwave and radio frequency solutions for critical defense and other applications, plans to offer 7.1 million shares at a range of $16 to $18. Insider shares total 4.1 million. Assuming the stock prices at the midpoint, the company will have an initial market capitalization of $313 million. UBS Investment Bank and Bear Sterns head the list of underwriters on the deal. Timing has yet to be announced.
