PLAINVIEW, NY--(Marketwired - January 10, 2017) - Veeco Instruments Inc. ("Veeco") (NASDAQ: VECO) today announced that it commenced an underwritten public offering of $200 million aggregate principal amount of Convertible Senior Notes due 2023 (the "Notes"). 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.
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, when available, from Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Ave., Edgewood, N.Y 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 firstname.lastname@example.org.
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.
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.
Forward-Looking Statements and Disclosures
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 Risk Factors, Business Description and Management's Discussion and Analysis of Financial Condition and Results of Operations 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.