Temescal

ARM Purification

CLICK HERE: free registration for Semiconductor Today and Semiconductor Today ASIACLICK HERE: free registration for Semiconductor Today and Semiconductor Today ASIA

Join our LinkedIn group!

Follow ST on Twitter

IQE

12 January 2017

Veeco increases public offering of notes from $200m to $300m

Epitaxial deposition and process equipment maker Veeco Instruments Inc of Plainview, NY, USA has increased the size of its underwritten public offering of convertible senior notes (due 2023) from $200m (announced on 11 January) to $300m.

Also, the firm has granted the underwriters a 30-day option to purchase up to an additional $45m of notes to cover over-allotments.

The notes will be senior unsecured obligations of Veeco, and interest will be payable semi‐annually at a rate of 2.70% per year. The initial conversion rate is 24.9800 shares of common stock per $1000 principal amount of the notes (equivalent to an initial conversion price of about $40.03 per share). Upon conversion, Veeco will pay or deliver cash, shares of common stock or a combination of the two, at its election.

Net proceeds to Veeco, after deducting underwriting discounts and estimated offering expenses, will be about $291.5m (assuming no exercise by the underwriters of their option to purchase additional notes).

Veeco intends to use the net proceeds from the offering to fund potential acquisitions, to repurchase shares and for other general corporate purposes.

Veeco expects the offering to close on 18 January, subject to customary closing conditions. Barclays Capital Inc and Wells Fargo Securities LLC are acting as joint book-running managers for the offering.

See related items:

Veeco announces public offering of $200m convertible senior notes

Veeco grows gross margin despite revenue falling 9% in Q2 to $75.3m

Tags: Veeco MOCVD MBE ALD Wet processing

Visit: www.veeco.com

Share/Save/Bookmark
See Latest IssueRSS Feed

EVG