Bruker Completes $690 Million Mandatory Convertible Preferred Stock Offering
Simpson Thacher represented Bruker Corporation in connection with the registered offering of 2,760,000 shares of Bruker’s 6.375% Mandatory Convertible Preferred Stock, Series A, inclusive of shares sold pursuant to the underwriters’ full exercise of their option to purchase additional shares. Bruker intends to use the net proceeds from the offering to strengthen its balance sheet and enhance strategic flexibility by repaying outstanding indebtedness and for general corporate purposes, which may include further repayment of indebtedness and funding working capital, capital expenditures, potential future acquisitions and investments, investments in or loans to its subsidiaries, share repurchases and dividends.
Bruker is a developer, manufacturer and distributor of high-performance scientific instruments and analytical and diagnostic solutions that enable scientists and engineers to explore life and materials at microscopic, molecular and cellular levels.
The Simpson Thacher team included Roxane Reardon, Matt Hart, Ryan Surujnath and Chase Juszczak (Capital Markets); Michael Mann and Lina Pan (Tax); Jeanne Annarumma (Executive Compensation and Employee Benefits); Corina Holland (Intellectual Property and Data Privacy); Michael Isby (Environmental); and Vanessa Burrows, Jake Madden and Alison Peters (Healthcare).