Veeco (VECO) Announces $118.80M Common Share Offering
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- Veeco (VECO) Announces $118.80M Common Share Offering
Veeco Instruments Inc. (NASDAQ: VECO) announced today that the public offering of 5,000,000 shares of its common stock has priced at $23.75 per share, for gross proceeds of $118.8 million. The offering includes a 30-day option for the underwriters to purchase up to 750,000 additional shares to cover overallotments, if any. Veeco is conducting the offering pursuant to an effective registration statement under the Securities act of 1933. The offering is expected to be completed on November 3, 2009, subject to customary closing conditions.
Veeco intends to use the proceeds from the offering for general corporate purposes, including potential acquisitions.
Citi and J.P. Morgan served as joint book-running managers for the offering. Canaccord Adams Inc. and Piper Jaffray & Co. acted as co-managers.
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