Bruker Supercon Unit Files for IPO
Bruker Energy & Supercon Technologies, a unit of Billerica, MA-based Bruker, registered for an initial public offering on Friday, worth an estimated $100 million, according to regulatory documents. Two years ago Bruker EST was set up as a subsidiary of scientific instrument company Bruker (NASDAQ: BRKR), which will also offer some of its shares as part of the Bruker EST IPO and will continue to be the unit’s majority stockholder. Bruker Energy & Supercon Technologies has not yet set its share price for the IPO, but plans to apply to list its stock on the NASDAQ under the symbol “ESCT.” Jefferies & Company and UBS Investment Bank will serve as joint book-running managers for the deal, whose proceeds will go to research and development, product expansion, loan repayment, and general corporate purposes for Bruker EST.
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