ALEXANDRIA, Va.--(BUSINESS WIRE)--VSE 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.

Net 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.

William 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.

ABOUT VSE CORPORATION

VSE is a leading provider of aftermarket distribution and repair services for land, sea and air transportation assets for government and commercial markets. Core services include maintenance, repair and overhaul (MRO) services, parts distribution, supply chain management and logistics, engineering support, and consulting and training services for global commercial, federal, military and defense customers. VSE also provides information technology and energy consulting services. For additional information regarding VSE’s services and products, visit us at www.vsecorp.com.