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VSE Corporation ("VSE" or the "Company") (NASDAQ:VSEC), a leading provider of aftermarket distribution and repair services, announced today that it has commenced an underwritten public offering, subject to market and other conditions, of shares of its common stock pursuant to an effective shelf registration statement. In addition, VSE intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of common stock offered in the public offering.
VSE expects to use substantially all of the net proceeds from this offering to repay outstanding borrowings under its revolving loan facility, including borrowings to fund its acquisition of Turbine Controls, Inc., to support potential future strategic acquisitions and for general corporate purposes.
Posted In: VSEC
