Veeco announces $200 million senior note offering
Security offering due 2023 could be used to fund acquisitions and to repurchase shares
Process equipment company Veeco Instruments has commenced an underwritten public offering of $200 million aggregate principal amount of convertible senior notes (a debt security) due 2023.
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 to grant the underwriters a 30-day option to purchase up to an additional $30 million aggregate principal amount of Notes on the same terms and conditions, solely to cover over-allotments. Barclays Capital Inc. and Wells Fargo Securities, LLC are acting as joint book-running managers for the offering.