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Bruker Announces Pricing of Public Offering of $600 Million of 6.375% Mandatory Convertible Preferred Stock
BILLERICA, Mass.--(BUSINESS WIRE)-- Bruker Corporation (“Bruker”) (Nasdaq: BRKR) today announced the pricing of its previously announced public offering of
About this update from Bruker Corporation
[{"type":"text","content":" BILLERICA, Mass.--(BUSINESS WIRE)--\nBruker Corporation (“Bruker”) (Nasdaq: BRKR) today announced the pricing of its previously announced public offering of $600.0 million of 6.375% Mandatory Convertible Preferred Stock, Series A, par value $0.01 per share (the “Mandatory Convertible Preferred Stock”). Bruker has granted the underwriters a 30-day option to purchase up to an additional $90.0 million of Mandatory Convertible Preferred Stock. The offering is expected to close on or about September 8, 2025, subject to customary closing conditions.\n\n\nBruker estimates that the net proceeds from this offering will be approximately $582.0 million (or approximately $669.5 million if the underwriters exercise their option to purchase Mandatory Convertible Preferred Stock in full), in each case after deducting the underwriting discounts and commissions and estimated offering expenses payable by Bruker. Bruker intends to use the net proceeds from this offering to strengthen the balance sheet and enhance strategic flexibility by repaying (i) its term loan due December 2026 in full, (ii) outstanding borrowings under its 2024 amended and restated revolving credit agreement in full, and (iii) a portion of its term loan due March 2027. If the underwriters exercise their option to purchase additional Mandatory Convertible Preferred Stock, Bruker intends to use the net proceeds from the sale of such additional Mandatory Convertible Preferred Stock for general corporate purposes, which may include further payments of outstanding indebtedness, funding working capital, capital expenditures, potential future acquisitions and investments, investments in or loans to its subsidiaries, share repurchases and dividends.\n\n\nThe aggregate number of shares of Mandatory Convertible Preferred Stock being sold in the offering is 2,400,000 (or 2,760,000 if the underwriters exercise their option in full). Each share of Mandatory Convertible Preferred Stock has a liquidation preference of $250. Unless earlier converted at the option of the holders, each share of Mandatory Convertible Preferred Stock will automatically convert on September 1, 2028 (subject to postponement for certain market disruption events) into a number of shares of Bruker’s common stock determined based on the average volume-weighted average price per share of Bruker’s common stock over the...