IPG Photonics, which makes fiber lasers and amplifiers used in communications, materials processing and medical applications, set the terms for its IPO on Tuesday. The Massachusetts-based company plans to offer 9 million shares at a range of $13.50-$15.50, giving the deal a proposed market cap of $683 million. Merrill Lynch and Lehman Brothers are set to manage the deal. Timing has yet to be announced.
