VSE Corporation completes $1.3 billion public offering of Common Stock and tangible equity units

Client(s) VSE Corporation

Jones Day represented VSE Corporation (NASDAQ: VSEC) in connection with concurrent underwritten public offerings of (1) 3,989,362 shares of VSE's Common Stock at a price of $188.00 per share (before underwriting discounts and commissions) and (2) 8,000,000 5.750% tangible equity units, each with a stated value of $50.00 (before underwriting discounts and commissions) (collectively, the "Offerings"). Each tangible equity unit is comprised of a prepaid stock purchase contract and a senior amortizing note due February 1, 2029, in each case issued by VSE. VSE also granted the underwriters in each offering a 30-day option to purchase up to an additional (1) 598,404 shares of its Common Stock and (2) 1,200,000 tangible equity units, in each case on the same terms and conditions, which options were both exercised by the underwriters in full. The Offerings generated net proceeds of approximately $1.3 billion, after deducting underwriting discounts and commissions and before estimated offering expenses. VSE expects to use the net proceeds from the Offerings to fund a portion of the cash consideration for its previously announced acquisition of Precision Aviation Group.

The Common Stock is listed on The Nasdaq Global Market under the symbol “VSEC” and the tangible equity units are separately listed on The Nasdaq Global Select Market under the symbol “VSECU.”

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