ORBCOMM, which operates 30 low-Earth orbit satellites for providing commercial wireless messaging services, announced the terms for its IPO on Friday. The New Jersey-based company plans to offer 11.1 million shares at a range of $12-$14, giving the deal a proposed market cap of $510 million. UBS, Morgan Stanley, Banc of America and Cowen & Company are managing the deal. Timing has yet to be announced.
