Sensata Sets IPO Terms
Sensata Technologies, a maker of sensors and switches headquartered in Attleboro, MA, has set its initial public offering of 31.6 million shares at $18 to $20 a share, according to a filing with the SEC. Sensata Technologies Holding, a public limited liability company incorporated in the Netherlands, is offering 26.3 million shares, and selling shareholders are offering another 5.3 million shares, the filing reveals. Morgan Stanley and Barclays Capital are representing the underwriters, who will have a 30-day option to purchase an additional 4.74 million shares from the selling shareholders. Sensata, formerly a Texas Instruments unit that became a stand-alone company owned by Bain Capital in 2006, cut its staff by 150 last year through layoffs and buyouts.