The Capital Markets team advised the joint lead book-running managers and underwriting syndicate in the completion of VSE Corporation’s (Nasdaq: VSEC) underwritten public offering of (i) 1,982,757 shares of its common stock (inclusive of the full exercise of the underwriters option) at a public offering price of $87.00 per share. The gross proceeds from the offering, before deducting underwriting discounts and commissions and estimated offering expenses, were approximately $172.5 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 part 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, Justin Platt, Jesse Fishman, and Madison Clausius and included Liza Craig, Joshuah Turner, Brad Weber and Dan Karelitz.
For additional details on the offering, please read the press release.