Bruker Announces Public Offering of $600 Million of Mandatory Convertible Preferred Stock
(NASDAQ:BRKR) BILLERICA, Mass.--(BUSINESS WIRE)---- $BRKR #BRKR--Bruker Corporation (“Bruker”) (Nasdaq: BRKR) today announced it has commenced a public offering, subject to market and other conditions, of $600.0 million of Mandatory Convertible Preferred Stock, Series A, par value $0.01 per share (the “Mandatory Convertible Preferred Stock”). Bruker expects to grant the underwriters a 30-day option to purchase up to an additional $90.0 million of Mandatory Convertible Preferred Stock, solely to cover over-allotments, if any
Related Questions
How will the issuance of mandatory convertible preferred stock affect Bruker's earnings per share and dilution expectations?
What are the conversion terms, interest rate, and maturity of the Series A preferred stock, and how might they influence the company's capital structure and credit profile?
What specific use of proceeds does Bruker plan for the $600 million raise, and how could that impact its growth initiatives or repayment of existing debt?