The Capital Markets team advised the underwriting syndicate for VSE Corporation’s (Nasdaq: VSEC) completed public offering of 2,429,577 shares of its common stock, including 316,901 shares pursuant to the underwriters’ full exercise of their option to purchase additional shares, at a public offering price of $71.00 per share. The net proceeds from the offering, after deducting underwriting discounts and commissions and before other offering expenses, were approximately $162.1 million.
VSE is a leading provider of aftermarket distribution and repair services. Operating through its two key segments, VSE significantly enhances the productivity and longevity of its customers' high-value, business-critical assets. The Aviation segment is a leading provider of aftermarket parts distribution and maintenance, repair, and overhaul services for components and engine accessories to commercial, business, and general aviation operators. The Fleet segment specializes in parts distribution, engineering solutions, and supply chain management services catered to the medium and heavy-duty fleet market.
The Goodwin team was led by Ben Marsh, Marishka DeToy, Justin Platt, Chris Gravallese, and Madison Clausius and included Amy Josselyn and Carrie Miller (Global Trade); Liza Craig and Alex Vivona (Government Contracts); Nate Brodeur (Environmental); Dan Karelitz and Leon Peschel (Tax); and Brad Weber (Opinions).
For additional details on the offering, please read the pricing press release.