UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event
reported):
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
(Address of principal executive offices)
(
(Registrant’s telephone number, including area code)
Not applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| The |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
| Item 3.02. | Unregistered Sales of Equity Securities. |
On May 15, 2025, Veeco Instruments Inc. (the “Company”) completed separate, privately-negotiated transactions with the holders of all of its $25.0 million in aggregate principal amount of 3.75% Convertible Senior Notes due 2027 (the “Notes”) in which the holders exchanged their Notes (the “Exchanges”) for an aggregate of 1,643,084 shares of the Company’s common stock, $0.01 par value per share (the “Common Stock”), and aggregate cash payments of approximately $5.4 million, inclusive of accrued and unpaid interest. Following the Exchanges, the Notes were cancelled and the Indenture, dated May 18, 2020 (the “Indenture”), between the Company and U.S. Bank Trust Company, National Association (as successor in interest to U.S. Bank National Association), as trustee, governing the Notes was satisfied and discharged. As a result, the Company has been released from its obligations under the Indenture.
The issuances of shares of Common Stock in the Exchanges were made pursuant to the exemption from registration provided in Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”).
| Item 7.01. | Regulation FD Disclosure. |
On May 15, 2025, the Company issued a press release (the “press release”) regarding the Exchanges. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K. The information furnished pursuant to this Item 7.01 and Exhibit 99.1 shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of such section, nor shall it be deemed incorporated by reference in any filing of the Company under the Securities Act, or the Exchange Act, regardless of any general incorporation language in such filing, unless expressly incorporated by specific reference in such filing.
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits
| Exhibit No. | Description | |
| 99.1 | Press Release issued May 15, 2025 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| May 15, 2025 | VEECO INSTRUMENTS INC. | |
| By: | /s/ Kirk Mackey | |
| Name: | Kirk Mackey | |
| Title: | Vice President, General Counsel | |
3
Exhibit 99.1
Veeco Announces Private Exchanges and Cancellation of Remaining 3.75% Convertible Notes due 2027
May 15, 2025
PLAINVIEW, N.Y., May 15, 2025 (GLOBE NEWSWIRE) -- Veeco Instruments Inc. (NASDAQ: VECO) (the “Company” or “Veeco”) today announced that the Company completed separate exchange transactions (the “Exchanges”) pursuant to privately negotiated exchange agreements with the holders of all of its outstanding 3.75% Convertible Senior Notes due 2027 (the “2027 Notes”).
“Veeco has strengthened our balance sheet by proactively addressing our 2027 Notes following the settlement of our 2025 Notes at maturity in January,” said John Kiernan, Chief Financial Officer of Veeco. “These transactions provide greater financial flexibility, in addition to reducing our ongoing interest expense and outstanding debt.”
Prior to the Exchanges, the 2027 Notes had an aggregate principal amount of $25.0 million, representing approximately 1.8 million underlying shares of the Company’s common stock based on the conversion ratio of 71.5372 shares per $1,000 principal amount of the 2027 Notes. In accordance with the terms of the Exchanges, the Company exchanged the 2027 Notes for an aggregate of approximately 1.6 million newly issued shares of its common stock and approximately $5.4 million in cash, inclusive of accrued and unpaid interest.
The Exchanges were made pursuant to an exemption from registration provided in Section 4(a)(2) of the Securities Act of 1933, as amended.
ICR Capital LLC acted as the Company’s financial advisor.
About Veeco
Veeco (NASDAQ: VECO) is an innovative manufacturer of semiconductor process equipment. Our laser annealing, ion beam, single wafer etch & clean, lithography, and metal organic chemical vapor deposition (MOCVD) technologies play an integral role in the fabrication and packaging of advanced semiconductor devices. With equipment designed to optimize performance, yield and cost of ownership, Veeco holds leading technology positions in the markets we serve. To learn more about Veeco’s systems and service offerings, visit www.veeco.com.
To the extent that this news release discusses expectations or otherwise makes statements about the future, such statements are forward-looking and are subject to a number of risks and uncertainties that could cause actual results to differ materially from the statements made. These factors include the risks discussed in the Business Description and Management's Discussion and Analysis sections of Veeco's Annual Report on Form 10-K for the year ended December 31, 2024 and in our subsequent quarterly reports on Form 10-Q, current reports on Form 8-K and press releases. Veeco does not undertake any obligation to update any forward-looking statements to reflect future events or circumstances after the date of such statements.
Veeco Contacts:
Investors: Anthony Pappone | (516) 500-8798
| apappone@veeco.com
Media: Javier Banos | (516) 673-7328 | jbanos@veeco.com
Cover |
May 15, 2025 |
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| Cover [Abstract] | |
| Document Type | 8-K |
| Amendment Flag | false |
| Document Period End Date | May 15, 2025 |
| Entity File Number | 0-16244 |
| Entity Registrant Name | VEECO INSTRUMENTS INC. |
| Entity Central Index Key | 0000103145 |
| Entity Tax Identification Number | 11-2989601 |
| Entity Incorporation, State or Country Code | DE |
| Entity Address, Address Line One | Terminal Drive |
| Entity Address, City or Town | Plainview |
| Entity Address, State or Province | NY |
| Entity Address, Postal Zip Code | 11803 |
| City Area Code | 516 |
| Local Phone Number | 677-0200 |
| Written Communications | false |
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| Pre-commencement Tender Offer | false |
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| Title of 12(b) Security | Common Stock, par value $0.01 per share |
| Trading Symbol | VECO |
| Security Exchange Name | NASDAQ |
| Entity Emerging Growth Company | false |
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