Business
Mayville Engineering Company Announces Closing of Public Offering, Including Full Exercise of the Underwriters’ Option to Purchase Additional Shares of Common Stock
MILWAUKEE, May 21, 2026--Mayville Engineering Company (NYSE: MEC) (the "Company" or "MEC"), a leading value-added provider of design, prototyping and manufacturing solutions serving diverse end markets, today announced the closing of its underwritten public offering of 5,000,000 shares of its common stock at a public offering price of $20.00 per share, for total gross proceeds of $100 million, before deducting underwriting discounts and commissions and other offering expenses payable by MEC. Thi
About this update from Mayville Engineering Company, Inc.
[{"type":"text","content":"MILWAUKEE, May 21, 2026--(BUSINESS WIRE)--Mayville Engineering Company (NYSE: MEC) (the "Company" or "MEC"), a leading value-added provider of design, prototyping and manufacturing solutions serving diverse end markets, today announced the closing of its underwritten public offering of 5,000,000 shares of its common stock at a public offering price of $20.00 per share, for total gross proceeds of $100 million, before deducting underwriting discounts and commissions and other offering expenses payable by MEC. This amount includes the exercise in full by the underwriters of their option to purchase up to an additional 652,000 shares of common stock in the offering (the "Option").","length":716,"tagName":"p"},{"type":"text","content":"William Blair & Company, L.L.C. and Craig-Hallum Capital Group LLC acted as lead book-running managers for the offering. Northland Securities, Inc. acted as a co-manager for the offering.","length":191,"tagName":"p"},{"type":"text","content":"MEC intends to use the net proceeds from the offering, including the proceeds received in connection with the exercise of the Option, for reducing amounts outstanding under its senior secured revolving credit facility, capital expenditures focused on relevant growth sectors and working capital and general corporate purposes. A portion of the amounts expected to be repaid under the Company’s senior secured revolving credit facility are attributable to amounts borrowed to complete the Accu-fab acquisition, which MEC completed in July 2025. The Company’s senior secured revolving credit facility matures on June 28, 2028 and, as of March 31, 2026, the interest rate of such facility was 6.42%.","length":696,"tagName":"p"},{"type":"text","content":"The shares were offered by MEC pursuant to a shelf registration statement that was filed with the Securities and Exchange Commission ("SEC") on March 7, 2024, as amended by Amendment No. 1 filed with the SEC on May 8, 2024 and declared effective by the SEC on May 20, 2024. The offering was made only by means of a written prospectus supplement and the accompanying prospectus that form part of the registration statement. A final prospectus supplement relating to and describing the terms of the offering was filed with the SEC on May 20, 2026 and may be obtained for free by visiting the...