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Slideshow Preferred Stock Offerings

By Preferred Stock Channel Staff, updated Tue, July 7, 7:18 AM

Slide #2. II-VI Incorporated Preferred Stock Offering

Company: II-VI Incorporated (NASDAQ:IIVI)
Date announced: 6/29/2020
Shares Offered: 9,302,235
Date of Pricing: 7/2/2020
Price Per Share: $43.00
Preferred Stock Offering Details: II-VI Incorporated (Nasdaq: IIVI), a global leader in engineered materials and optoelectronic components, today announced that it has commenced concurrent underwritten public offerings of $350.0 million of newly issued shares of its common stock (the "common stock offering") and of $400.0 million aggregate liquidation preference of a newly established Series A Mandatory Convertible Preferred Stock (the "preferred stock offering"). In addition, II-VI expects to grant the underwriters of the offerings a 30-day option to purchase up to an additional (a) $52.5 million of shares of its common stock at the applicable public offering price, less underwriting discounts and commissions, and (b) $60.0 million aggregate liquidation preference of its Series A Mandatory Convertible Preferred Stock at the applicable public offering price, less underwriting discounts and commissions, solely to cover over-allotments. Neither the completion of the common stock offering nor the completion of the preferred stock offering is contingent on the 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. -updated 7/2- II-VI Incorporated (Nasdaq: IIVI), a global leader in engineered materials and optoelectronic components, today announced the pricing of concurrent underwritten public offerings of (a) 9,302,235 shares of its common stock at a public offering price of $43.00 per share for gross proceeds to II-VI from the offering of approximately $400,000,000, before deducting the underwriting discounts and commissions and estimated offering expenses payable by II-VI (the "common stock offering") and (b) 2,000,000 shares of its Series A Mandatory Convertible Preferred Stock at a public offering price of $200.00 per share for gross proceeds to II-VI from the offering of $400,000,000, before deducting the underwriting discounts and commissions and estimated offering expenses payable by II-VI (the "preferred stock offering"). In addition, II-VI has granted the underwriters a 30-day option to purchase up to an additional (a) 1,395,335 shares of its common stock at the applicable public offering price, less underwriting discounts and commissions, and (b) 300,000 shares of Series A Mandatory Convertible Preferred Stock at the applicable public offering price, less underwriting discounts and commissions and solely to cover over-allotments with respect to the preferred stock offering. Each of the common stock offering and the preferred stock offering is expected to close on or about July 7, 2020, subject to the satisfaction of customary closing conditions.

II-VI develops, manufactures, and markets engineered materials, optoelectronic components, and devices for a range of applications. Co. has three segments: II-VI Laser Solutions, which designs, manufactures, and markets optical and electro-optical components and materials sold under the II-VI Infrared brand name; II-VI Photonics, which manufactures crystal materials, optics, microchip lasers, and optoelectronic modules for use in optical communication networks and other consumer applications; and II-VI Performance Products, which designs, manufactures, and markets infrared optical components and optical assemblies for aerospace and defense, medical and commercial laser imaging applications.
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Name: 
II-VI Inc
Website: 
www.ii-vi.com
Sector: 
Electronic Equipment & Products
Number of ETFs Holding IIVI: 
39 (see which ones)
Total Market Value Held by ETFs: 
$679,041,085
Total Market Capitalization: 
$4,024,000,000
% of Market Cap. Held by ETFs: 
16.87%
 

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