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Bruker Files IPO.

Washington, DC 4/14/00-Bruker Daltonics has filed a S-1 registration statement with the Securities and Exchange Commission to begin trading its stock on the Nasdaq stock exchange under the symbol BDAL. The company expects to raise $125 million in the initial stock sale but gave no details in this filing as to how many shares it plans to sell or the price per share. The company stated that the money raised through the IPO would go towards R&D, expansion, working capital and the repayment of bank loans. In 1999, net revenue for the company was $64.7 million and net income was $1.25 million.

This will give Bruker Daltonics a much needed infusion of cash, but enthusiasm for the stock could be damaged by recent litigation (see below). Bruker has a leading position in MALDI-ToF mass spectrometry with a steadily growing role in ion trap technology. Its recent entrance into the genomics market is very promising but has yet to reap any benefits (see article page 4).
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Publication:Instrument Business Outlook
Geographic Code:1USA
Date:Apr 15, 2000
Words:170
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