Bruker mandatory convertible preferred stock offering
The preferred stock will be listed on Nasdaq
Davis Polk advised the representatives of the several underwriters in connection with the $690 million SEC-registered offering of 2,760,000 shares of 6.375% Series A mandatory convertible preferred stock by Bruker Corporation, including the full exercise by the underwriters of their option to purchase 360,000 additional shares of 6.375% Series A Mandatory convertible preferred stock. The proceeds from the offering will be used to strengthen Bruker’s balance sheet and enhance strategic flexibility by repaying existing debt and for general corporate purposes.
Bruker Corporation is a developer, manufacturer and distributor of high-performance scientific instruments and analytical and diagnostic solutions that enable customers to explore life and materials at microscopic, molecular and cellular levels. Bruker’s products and solutions address the rapidly evolving needs of a diverse array of customers in life science research, pharmaceuticals, biotechnology, applied markets, cell biology, clinical research, microbiology, in-vitro diagnostics, nanotechnology and materials science research.
The Davis Polk capital markets team included partner Yasin Keshvargar and counsel Drew Glover. The equity derivatives team included partner Mark M. Mendez and counsel Hanbing Zhang. Partner Aliza Slansky and associate Bryce Maxey provided tax advice. Partner David R. Bauer provided intellectual property advice. Counsel Loyti Cheng provided environmental advice. Members of the Davis Polk team are based in the New York and Northern California offices.