Cases & Deals

VSE Corporation completes $400 million public offering of Common Stock

Client(s) VSE Corporation

Jones Day represented VSE Corporation (NASDAQ: VSEC) in connection with an underwritten public offering of 2,352,941 shares of VSE's Common Stock at a price of $170.00 per share (before underwriting discounts and commissions). VSE also granted the underwriters a 30-day option to purchase up to an additional 352,941 shares of its Common Stock in the public offering on the same terms and conditions, which option was exercised by the underwriters in full.

The offering generated net proceeds of approximately $441.6 million, after deducting estimated underwriting expenses, discounts and commissions and before estimated offering expenses. VSE expects to use the net proceeds from the offering to fund all or a portion of the cash consideration for its previously announced acquisition of GenNx/AeroRepair IntermediateCo Inc., to support potential future strategic acquisitions and for general corporate purposes.

VSE is a leading provider of aviation distribution and repair services for the commercial and business and general aviation aftermarkets.