Veeco Announces Private Exchanges and Cancellation of Remaining 3.75% Convertible Notes due 2027

Quick Summary:

PLAINVIEW, N.Y., May 15, 2025 (GLOBE NEWSWIRE) -- Veeco Instruments Inc.(NASDAQ: VECO) (the "Company” or "Veeco”) today announced that the Company completed separate exchange transactions (the "Exchanges”) pursuant to privately negotiated exchange agreements with the holders of all of its outstanding 3.75% Convertible Senior Notes due 2027 (the "2027 Notes”).  "Veeco has strengthened our balance sheet by proactively addressing our 2027 Notes following the settlement of our 2025 Notes at maturity in January,” said John Kiernan, Chief Financial Officer of Veeco.

"These transactions provide greater financial flexibility, in addition to reducing our ongoing interest expense and outstanding debt.” Prior to the Exchanges, the 2027 Notes had an aggregate principal amount of $25.0 million, representing approximately 1.8 million underlying shares of the Company’s common stock based on the conversion ratio of 71.5372 shares per $1,000 principal amount of the 2027 Notes.

In accordance with the terms of the Exchanges, the Company exchanged the 2027 Notes for an aggregate of approximately 1.6 million newly issued shares of its common stock and approximately $5.4 million in cash, inclusive of accrued and unpaid interest.

Read Quick SummarySave Time

or

Article Details

Author / Journalist: Veeco Instruments Inc.

Category: Technology

Markets: China

Topics: Nasdaq:VECO US9224171002

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-15 @ 21:00:00 (1 days ago)

News Timezone: GMT +8:00

News Source URL: globenewswire.com

Language: English

Readers: 81 people read this story

Article Length: 423 words

Reading Time: 3 minutes read

Sentences: 13 lines

Sentence Length: 33 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © GlobeNewswire

News ID: 28734771

View Article Analysis

About GlobeNewswire

Main Topics: Technology

Official Website: globenewswire.com

Update Frequency: 32 posts per day

Year Established: 1998

Headquarters: China

News Last Updated: 8 hours ago

Coverage Areas: China

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #116

Publisher Details

Frequently Asked Questions