Bruker Corp 6.375% Mandatory Convertible Preferred Stock, Series A Due 9/1/2028 (BRKRP)
NGS · · CUSIP 116794207
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Security Details

Coupon Rate
6.38%
Liquidation Preference
$250.00
Call Price
—
Call / Redemption Date
—
Maturity Date
9/1/2028
Distribution Period
Q
Rate Type
Fixed
Annual Distribution
15.9375
Distribution Dates
3/1, 6/1, 9/1 & 12/1
Credit Ratings
Moody's NR · S&P NR (9/4/2025)
Conversion
6.9534@35.95+
Tax-Advantaged Dividends
Yes

Security Profile

Security Type
Mandatory Convertible Security »
CUSIP
116794207
IPO
9/3/2025 · $250/share
Previous Symbol
BRUKP (changed 9/9/2025)
Parent Company
Bruker Corp (BRKR)
Business: Bruker Corp 6.375% Mandatory Convertible Preferred Stock, Series A liquidation preference $250 per share. The preferred shares are mandatorily convertible on 09/01/2028 into a variable number of Bruken Corp (NYSE: (BRKR) common shares based on the then current price of the common shares for 20 consecutive trading days immediately prior to the conversion date. The conversion settlement rate will be 6.9534 shares per unit if the then current market price is equal to or greater than $35.95 and 8.5179 shares per unit if the market price is equal to or less than $29.35. For market prices between those values the settlement rate will be $250 divided by the market value. The last reported sale price of the common stock on 08/29/2025 was $33.98 per share. <p> Cumulative distributions of 6.375% per annum ($15.9375 per annum or $3.984375 per quarter) will be paid quarterly on 3/1, 6/1, 9/1 & 12/1 to holders of record on 2/15, 5/15, 8/15, & 11/15 prior to the payment date (NOTE: the ex-dividend date is the record date). <p> Dividends paid by this preferred security are eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) and are also eligible for the dividends received deduction for corporate holders (see page S-60 of the prospectus for further information). <p> If a Fundamental Change occurs on or prior to 09/01/2028 holders of shares have the right to convert into common stock at the fundamental change conversion rate plus a fundamental change dividend make-whole amount (see prospectus for further information). <p> This security was not rated by Moody’s or S&P at the time of its IPO. In regard to the payment of distributions and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.
Notes: The 6.375% Series A preferred shares were issued on 09/03/2025 and started trading temporarily on the Other OTC market 09/02/2025 under their "When Issued" ticker symbol BRUKV. The shares are expected to start trading on the Nasdaq Global Select Market within 30 days of their issue date under their permanent ticker symbol of BRKRP. For information on securities trading on the Other OTC, see our discussion on this subject on our What Income Investors Should Know page which can be found on our Information menu at the top of any page.

Company Contact

CEO
Frank H. Laukien
CFO
Gerald N. Herman
Headquarters
40 Manning Road, Billerica, MA 01821
Phone
978-663-3660
Investor Relations
Justin Ward · 978-663-3660 · Investor.Relations@bruker.com
SEC EDGAR Filings
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