Bruker Positioned for Recovery and Growth Amid Financial Maneuvering and Strategic InitiativesWe recently caught up with BRKR mgmt. (CEO the close of their recent convertible financing of ~$670M to address term loans due Dec 2026, partial loans due 2027 and also the revolver credit agreement from 2024. According to mgmt., 1) the capital raise lifts the overhang from the 2026-27 debt covenants which required a leverage ratio below <3.5x; and 2) with the overhang behind, investors are more likely to get involved at currently attractive valuations despite the macro headwinds. Feedback from mgmt. also suggests that the interest level was relatively strong from investors at the depressed valuation (10.6x EV/EBITDA), despite the dilution in shares (mandatory conversion between $29.35 - $35.95).