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Bruker Energy & Supercon plans $100M IPO

Fri, 09/03/2010 - 4:45am
The Associated Press

Bruker Energy & Supercon Technologies Inc., a division of Bruker Corp. that provides technology for equipment such as MRI machines, plans to raise $100 million through an initial public offering.

That figure is estimated in order to meet Securities and Exchange Commission filing requirements and may change.

In the filing, made Friday, the company said it will use the cash from the IPO to pay down debt, expand its production capacity and for research and development.

The Billerica, Mass. company plans to trade under the symbol "ESCT" on the Nasdaq.

Bruker Corp. said it plans to keep a controlling stake in the unit "for the foreseeable future."

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