समाचार: Optoelectronics
30 जून 2020
Engineered materials and optoelectronic component maker II-VI Inc of Saxonburg, PA, USA has commenced concurrent underwritten public offerings of $350m of newly issued shares of its common stock and $400m liquidation preference of a newly established Series A mandatory convertible preferred stock.
In addition, II-VI expects to grant the underwriters of the offerings a 30-day option to purchase up to an additional (i) $52.5m of shares of its common stock at the applicable public offering price, and (ii) $60m liquidation preference of its Series A mandatory convertible preferred stock at the applicable public offering price (minus underwriting discounts and commissions, in both cases), solely to cover over-allotments.
Completion of neither the common stock offering nor the preferred stock offering is contingent on completion of the other.
The offerings are subject to market and other conditions, and there can be no assurance as to whether or when either or both of the offerings may be completed, or as to the actual size or terms of either of the offerings.
Unless earlier converted, each share of Series A mandatory convertible preferred stock will automatically convert into a variable number of shares of II-VI’s common stock on 1 July 2023 (subject to postponement in certain limited circumstances). The conversion terms, dividend rate and the other terms of the Series A mandatory convertible preferred stock will be determined at the time of pricing of the preferred stock offering.
बोफा सिक्योरिटीज, जेपी मॉर्गन और सिटीग्रुप प्रत्येक पेशकश के लिए संयुक्त बुक-रनिंग मैनेजर के रूप में कार्य कर रहे हैं।
II-VI को अपने मौजूदा क्रेडिट समझौते के तहत उधारी चुकाने (अर्जित ब्याज सहित) चुकाने के लिए इन पेशकशों और / या नकदी से शुद्ध आय के $ 714.6m तक का उपयोग करने की उम्मीद है, और शुद्ध आय के शेष का उपयोग करने के लिए (यदि कोई हो) संबंधित, उभरती या पूरक प्रौद्योगिकियों, उत्पादों या व्यवसायों को विकसित करना, निवेश करना या अधिग्रहण करना, अन्य सामान्य कॉर्पोरेट उद्देश्यों के लिए।
Source: http://www.semiconductor-today.com/news_items/2020/jun/iivi2-300620.shtml
