A Coming Bruker Superconductor IPO (BRKR, ESCT)
There is a rather interesting IPO filing this morning from Bruker Energy & Supercon Technologies, Inc. Bruker Corporation (NASDAQ: BRKR) is the controlling shareholder and is going to be offering shares along with the company. For filing purposes, the size…
The company has filed to take the stock ticker “ESCT” on NASDAQ. Lead underwriters are listed as Jefferies & Company and UBS Investment Bank; and co-managers are listed as Needham & Co. and Gleacher & Co.
Bruker EST is a superconducting technology and enabling tools company that makes materials and devices for growing markets in renewable energy, energy infrastructure, healthcare and what it calls “big science” research.
This company is a subsidiary of Bruker Corporation (NASDAQ: BRKR), which generated $1.1145 billion in 2009 revenues with operating income of $136.7 million and net income applicable to holders of $81.2 million.
For a comparison, the Bruker EST unit generated $60.1 million in 2009 revenue. As of June 30, 2010, the unit’s backlog was $100.7 million and it recently acquired the research instruments business of ACCEL Instruments GmbH from Varian Medical Systems, Inc. in April 2009.
Bruker Corporation (NASDAQ: BRKR) was trading up 5.1% at $13.23 in late morning trade. The parent market cap is $2.18 billion and the 52-week trading range is $9.17 to $15.85.
JON C. OGG
Contact [email protected] for any questions or corrections.
Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.
