VSE Corporation Prices Public Offering of Its Common Stock

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[{"type":"text","content":" ALEXANDRIA, Va.--(BUSINESS WIRE)--\nVSE Corporation (NASDAQ: VSEC), a leading provider of aftermarket distribution and maintenance, repair and overhaul (MRO) services for land, sea and air transportation assets in the public and private sectors, today announced that it has priced its previously announced underwritten public offering of 1,428,600 shares of its common stock at a price to the public of $35.00 per share. VSE has also granted the underwriters a 30-day option to purchase up to an additional 214,290 shares. The offering is expected to close on February 2, 2021, subject to the satisfaction of customary closing conditions.\n\nNet proceeds from the offering are expected to be approximately $47 million after deducting underwriting discounts and commissions and before estimated offering expenses. VSE expects to use the net proceeds from this offering for general corporate purposes, which may include among other things, financing strategic acquisitions, working capital requirements for new program launches, and repaying outstanding borrowings under its revolving credit facility.\n\nWilliam Blair & Company, L.L.C. and Canaccord Genuity LLC are acting as joint book-running managers and representatives of the underwriters for the offering. B. Riley Securities, Inc. and The Benchmark Company, LLC are serving as co-managers for the offering.\n\nA shelf registration statement relating to the securities being offered has been filed with the Securities and Exchange Commission (the “SEC”) and has been declared effective. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities described herein, nor shall there be any sale of the securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of any such jurisdiction. The offering is being made only by means of a preliminary prospectus supplement and accompanying prospectus. A preliminary prospectus supplement and accompanying prospectus relating to the offering have been filed with the SEC and are available free of charge on the SEC’s website at http://www.sec.gov. Copies of the preliminary prospectus supplement and accompanying prospectus relating to this offering of securities may also be obtained from William Blair & Company, ...

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