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: [[ticker: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.
Author: Erin Kutz
Erin Kutz has a background in covering business, politics and general news. She holds a bachelor’s degree in journalism from Boston University. Erin previously worked in the Boston bureau of Reuters, where she wrote articles on the investment management and mutual fund industries. While in college, she researched for USA Today reporter Jayne O’Donnell’s book, Gen Buy: How Tweens, Teens and Twenty-Somethings Are Revolutionizing Retail. She also spent a semester in Washington, DC, reporting Capitol Hill stories as a correspondent for two Connecticut newspapers and interning in the Money section of USA Today, where she assisted with coverage on the retail and small business beats. Erin got her first taste of reporting at Boston University’s independent student newspaper, as a city section reporter and fact checker and editor of the paper’s weekly business section.
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