Veeco settles conversion of all 4.125% convertibles ahead of call

By Marisa Wong

Madison, Wis., June 1 - Veeco Instruments Inc. settled the conversion of $91.6 million of its 4.125% convertible subordinated notes due 2012 on May 26 and the conversion of $1.5 million of the notes on June 1, according to an 8-K filing with the Securities and Exchange Commission.

Veeco called all of the notes on April 25, but in lieu of redemption, holders elected to convert their notes. The company paid $91.6 million in cash and issued 1,551,747 shares of its common stock on May 26.

Prior to the April 25 call, the company also received a notice of conversion of $1.5 million of the notes. On June 1, the company paid $1.5 million in cash and issued 26,213 common shares for those securities.

U.S. Bank Trust NA is the trustee and agent.

Veeco Instruments is based in Woodbury, N.Y., and provides products and services for nanoscale applications.

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