Laser Giant Coherent announces NYSE listing Ring the Bell!

Coherent rings the opening bell at the New York Stock Exchange on May 23, 2023 at 9:26 a.m. Et to witness another pivotal moment!

Coherent, A U.S. laser system solutions provider, announced on February 8 that it is transferring its common stock and 6.00% Class A mandatory convertible preferred stock from the Nasdaq Stock Market to the New York Stock Exchange (NYSE).

Coherent officially announced the NYSE bell ringing yesterday, and the pomp and morale went straight to the company's foreign social media platforms: "Coherent Chairman and CEO, Dr. Chuck Mattera, is honored to ring the Opening Bell at the New York Stock Exchange!"

This exciting moment marks nearly a year since II-VI successfully completed the acquisition of Coherent Corp. on July 1, 2022 (the combined company became Coherent Corp. on September 8, 2022). . It also marks the third month of its transition to the New York Stock Exchange after 36 years as a public company.

In his bell ringing announcement, Dr. Mattera enthused, "The New York Stock Exchange has a long tradition of ringing the opening bell and Coherent is honored to be welcomed." "Part of the reason we joined the New York Stock Exchange was our desire for new brands. On behalf of our Board of directors, our senior leadership team and Coherent Corp. To all our employees worldwide, thank you to the NYSE for the tremendous privilege of working with so many of the world's most prestigious companies."

In its February announcement, the company said the shares would cease trading on Nasdaq at the close of business on February 22, 2023 local time. Beginning February 23, 2023, its common stock and 6.00% Class A Mandatory Convertible Preferred Stock are expected to begin trading on the New York Stock Exchange under the ticker symbols "COHR" and "IIVI," respectively.

Coherent Chairman and Chief Executive Officer Vincent D. Dr. Mattera commented at the time, "We are very excited to join the NYSE as it is one of the most prestigious trading platforms in the world. We are going through a period of big change in our business and this is part of that change. We look forward to a fruitful relationship with the New York Stock Exchange as the company continues to grow and enhance shareholder value. In addition, we are grateful for all the support Nasdaq has provided since our initial public offering in 1987."

Coherent reported total revenue of $1.24 billion in the third quarter of fiscal 2023, up 50% from the same period last year, according to its most recent earnings report earlier this month. On the order side, a Coherent backlog of $2.6 billion was placed in the quarter, up 23% from a year ago. Now ringing the bell successfully in NYSE, Coherent is confident to usher in a better new chapter!

Source: OFweek