PLAINVIEW, NY --(Marketwired - January 11, 2017) - Veeco Instruments Inc. (
The Notes will be senior unsecured obligations of Veeco, and interest will be payable semi‐annually at a rate of 2.70% per year. The initial conversion rate of the Notes is 24.9800 shares of common stock per $1,000 principal amount of the Notes (which is equivalent to an initial conversion price of approximately $40.03 per share). Upon conversion, Veeco will pay or deliver, as the case may be, cash, shares of common stock of Veeco or a combination of cash and shares of common stock of Veeco, at its election.
The net proceeds to Veeco from this offering, after deducting underwriting discounts and estimated offering expenses, will be approximately $291.5 million (assuming no exercise by the underwriters of their option to purchase additional Notes).
Veeco intends to use the net proceeds from the offering to fund potential acquisitions, to repurchase shares and for other general corporate purposes.
The offering is being made only by means of an effective shelf registration statement, including a prospectus supplement forming a part of the effective shelf registration statement. Copies of the preliminary prospectus supplement may be obtained from Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Ave., Edgewood, NY 11717, by email: Barclaysprospectus@broadridge.com , by telephone: (888) 603-5847; or Wells Fargo Securities, LLC at 375 Park Avenue, New York, NY 10152, Attention: Equity Syndicate Department or by calling 1-800-326-5897 or by email at cmclientsupport@wellsfargo.com .
This press release does not constitute an offer to sell or a solicitation of an offer to buy the Notes, nor does it constitute an offer, solicitation or sale of the Notes in any jurisdiction in which such offer, solicitation or sale is unlawful.
About Veeco
Veeco's process equipment solutions enable the manufacture of LEDs, displays, power electronics, compound semiconductors, hard disk drives, semiconductors, MEMS and wireless chips. We are the leader in MOCVD, MBE, Ion Beam, Wet Etch single wafer processing and other advanced thin film process technologies. Our high performance systems drive innovation in energy efficiency, consumer electronics and network storage and allow our customers to maximize productivity and achieve lower cost of ownership. For information on our company, products and worldwide service and support, please visit www.veeco.com .
To the extent that this news release discusses expectations or otherwise makes statements about the future, such statements are forward-looking and are subject to a number of risks and uncertainties that could cause actual results to differ materially from the statements made. These factors include the risks discussed in the Business Description and Management's Discussion and Analysis sections of Veeco's Annual Report on Form 10-K for the year ended December 31, 2015 and in our subsequent quarterly reports on Form 10-Q, current reports on Form 8-K and press releases. Veeco does not undertake any obligation to update any forward-looking statements to reflect future events or circumstances after the date of such statements.
Veeco Instruments Inc. Investors: Shanye Hudson 516-677-0200 x1472 shudson@veeco.com Media: Jeffrey Pina 516-677-0200 x1222 jpina@veeco.com
