TBS International Ltd., a global transporter with a fleet of smaller dry bulk carriers, announced it will offer 8.5 million shares with a price range of $15 to $17 per share. Insiders will be selling 3.75 million shares. Taken at the midpoint ($16), this would give TBS an initial market cap of $444 million. Merrill Lynch and Jefferies are the joint book runners on the offering.
