Energy Recovery, a developer and manufacturer of energy recovery devices utilized in the water desalination industry, announced terms for its upcoming IPO in a filing with the SEC on Wednesday. The California-based company plans to offer a total of 14 million shares (5.9 million from selling shareholders) at a range of $7-$9. Citi and Credit Suisse are the lead underwriters on the deal, which is expected to price in early July.
