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Bruker Energy & Supercon Files For IPO - Update

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Scientific and technical instruments maker Bruker Corp. (BRKR: Quote) said Friday that its wholly-owned subsidiary Bruker Energy & Supercon Technologies Inc. or BEST has filed a Form S-1 Registration Statement with the United States Securities and Exchange Commission for an initial public offering of its common stock.

Billerica, Massachusetts-based Bruker said it will retain a controlling equity interest in BEST. According to the Bruker, the offering may include shares offered by Bruker as a selling stockholder.

The number of shares to be offered by BEST and by Bruker and the price range for the offering were not revealed.

Jefferies & Company, Inc. and UBS Investment Bank are acting as joint book-running managers for the offering. Needham & Company, LLC is acting as lead manager and Gleacher & Company Securities, Inc. is acting as co-manager for the offering.

Founded in 1991, Bruker designs and manufactures life science and materials research systems, and related products through two segments: Scientific Instruments, and Energy & Supercon Technologies. Bruker Energy & Supercon Technologies manufactures and develops high-performance superconductor wire products and devices.

On July 28, Bruker posted a second quarter net income of $22.6 million or $0.14 per share, which surged from $12.9 million or $0.08 per share in the same quarter a year ago. Revenue for the second quarter was $300.9 million, up 19% from $252.5 million in the year-ago quarter.

BRKR closed Thursday's regular trading at $12.59 per share on the Nasdaq.

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by RTT Staff Writer

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