September 3, 2010 / 10:40 AM / 7 years ago

UPDATE 2-Bruker Energy & Supercon files for $100 mln IPO

* Jefferies & Co, UBS Investment Bank among underwriters

* Says Bruker to be controlling shareholder after offering

* Applies for Nasdaq listing under symbol “ESCT” (Adds details)

Sept 3 (Reuters) - Bruker Energy & Supercon Technologies Inc, a unit of Bruker Corp (BRKR.O), filed with U.S. regulators on Friday to raise up to $100 million in an initial public offering of common stock.

Jefferies & Co, UBS Investment Bank, Needham & Co LLC and Gleacher & Co are underwriting the IPO, the manufacturer of superconductor wire products and devices told the U.S Securities and Exchange Commission in a preliminary prospectus.

The filing did not reveal how many shares the company planned to sell or their expected price.

Bruker Corp will be the controlling stockholder after the offering.

    The company, which provides materials and devices for energy, healthcare and research markets, reported revenue of $60.1 million for the year ended Dec. 31, up 36 percent from the year ago.

    Bruker Energy said it intends to use proceeds from the offering for research and development, expansion and to repay debt.

    The Billerica, Massachusetts-based company intends to list its common stock on Nasdaq under the symbol “ESCT.” (Reporting by Suzannah Benjamin in Bangalore; Editing by Unnikrishnan Nair)

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