WOODBURY, N.Y. -- Veeco Instruments Inc. (NASDAQ: VECO) today announced its intention, subject to market and other conditions, to raise approximately $150 million through a private offering of convertible subordinated notes due 2008. The notes will have a term of seven years and will be convertible at the option of the holder into the Company's common stock at a price to be determined. The Company may also issue up to an additional $22.5 million of notes to cover overallotments in connection with the offering. The Company intends to use the net proceeds from the offering for general corporate purposes, including capital expenditures and possible future acquisitions. Veeco Instruments Inc.