Convertibles Calendar: Veeco, Plug Power on tap

May 13 (post-close)

VEECO INSTRUMENTS INC.:

• $150 million seven-year convertible notes

• Greenshoe of $22.5 million

• Coupon 3.25% to 3.75% and initial conversion premium of 32.5% to 37.5%

• Rule 144A

• Barclays

• Non-callable until June 6, 2024 and then subject to a 130% hurdle above the conversion price

• Proceeds to cover the cost of the call spread, to repurchase a portion of its 2.7% convertible notes due 2023 and for general corporate purposes

• Plainview, N.Y.-based manufacturer of semiconductor process equipment

PLUG POWER INC.:

• $200 million five-year convertible notes

• Greenshoe of $30 million

• Coupon of 3.25% to 3.75% and initial conversion premium of 22.5% to 27.5%

• Rule 144A

• Morgan Stanley & Co. LLC

• Non-callable for three years and then subject to a 130% hurdle

• First green convertible bond offering in the United States

• Proceeds to fund strategic initiatives of the company’s green hydrogen strategy

• Latham, N.Y.-based hydrogen fuel cell turnkey manufacturer

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