Coherent Corp announces mandatory conversion of Series A Preferred Stock to common; ~10.2M shares issued

COHERENT CORP.

All Series A Preferred shares convert automatically on July 3, 2023 at 4.4523 common shares per preferred share.
Conversion will result in issuance of approximately 10.2 million common shares, increasing dilution.
Final quarterly dividend of $3.00 per share to holders of record as of June 15, 2023, payable on conversion date.
NYSE trading of preferred stock (IIVI) to be suspended and delisted; Company to deregister preferred stock.

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