VECO - Veeco Instruments down 5% $205M offering

2023-05-17 07:33:33 ET

• Veeco Instruments ( NASDAQ: VECO ) stock drops 5% as the company prices private offering of $205M aggregate principal amount of 2.875% convertible senior notes due 2029.
• Purchasers of the notes a 30-day option to purchase up to an additional $25M aggregate principal amount of the notes.
• The closing of the offering is expected to occur on May 19, 2023.
• Net proceeds will be ~$198.9M(or ~$223.3M if the initial purchasers exercise their option to purchase additional notes in full).
• Proceeds of ~$198.8M will be used to fund the cash portion of the Note Exchanges described below and the remainder for general corporate purposes.

For further details see: