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Veeco Instruments (VECO) investor relations material
Veeco Instruments Proxy Filing summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Axcelis and Veeco have agreed to a merger of equals, creating a leading semiconductor equipment company with a diversified product portfolio and expanded R&D capabilities, targeting cost and revenue synergies and a stronger market position in expanding end markets.
The merger will result in Veeco becoming a wholly owned subsidiary of Axcelis, with the combined company headquartered in Beverly, Massachusetts, and adopting a new name and ticker symbol.
Veeco stockholders will receive 0.3575 shares of Axcelis common stock for each Veeco share, with cash in lieu of fractional shares; the exchange ratio is fixed and not subject to market fluctuations.
Post-merger, Axcelis stockholders will own approximately 58.1% and Veeco stockholders 41.9% of the combined company, based on fully diluted shares as of September 29, 2025.
The merger is expected to close in the second half of 2026, subject to regulatory and shareholder approvals.
Voting matters and shareholder proposals
Axcelis stockholders will vote on the issuance of shares to Veeco equityholders and the potential adjournment of the special meeting if more proxies are needed.
Veeco stockholders will vote on adopting the merger agreement, a non-binding advisory vote on executive compensation related to the merger, and the potential adjournment of their special meeting.
Both boards unanimously recommend voting in favor of all proposals, with one director recusing due to dual board service.
Approval of the Axcelis share issuance and Veeco merger agreement proposals are required for the merger to proceed.
If the merger is not completed, both companies remain independent, and termination fees may apply.
Board of directors and corporate governance
The combined company’s board will have eleven directors: six from Axcelis, four from Veeco, and Thomas St. Dennis as chairman.
Russell J. Low, Ph.D. (Axcelis CEO) will serve as CEO, and William J. Miller, Ph.D. (Veeco CEO) will join the board.
Board composition and leadership were key negotiation points, with equal representation and committee leadership roles discussed.
Next Veeco Instruments earnings date
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