VSE Corporation Announces Public Offering of Common Stock
Retrieved on:
Wednesday, July 19, 2023
Engineering, Automotive Manufacturing, Aerospace, Manufacturing, Trucking, Alternative Energy, Energy, Maritime, Air, Defense, Transport, Other Defense, Contracts, Logistics, Supply Chain Management, Vesey Street, Attention, Maintenance, Atmosphere, The 8th Floor, William Blair & Company, Telephone, VSE Corporation, Sale, RBC Capital Markets, Prospectus, VSE, Security (finance), Syndicate, VSEC, L.L.C
VSE Corporation (NASDAQ: VSEC; “VSE”, or the “Company”), a leading provider of aftermarket distribution and maintenance, repair and overhaul (“MRO”) services for air, land and sea transportation assets for commercial and government markets, announced today that it has commenced an underwritten public offering, subject to market and other conditions, of shares of its common stock pursuant to an effective shelf registration statement.
Key Points:
- VSE Corporation (NASDAQ: VSEC; “VSE”, or the “Company”), a leading provider of aftermarket distribution and maintenance, repair and overhaul (“MRO”) services for air, land and sea transportation assets for commercial and government markets, announced today that it has commenced an underwritten public offering, subject to market and other conditions, of shares of its common stock pursuant to an effective shelf registration statement.
- In addition, VSE intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of common stock offered in the public offering.
- VSE expects to use substantially all of the net proceeds from this offering to repay outstanding borrowings under its revolving credit facility and any remaining amounts for general corporate purposes.
- The offering is being made only by means of a preliminary prospectus supplement and accompanying prospectus.