VSE Corporation Prices Public Offering of Common Stock

VSE Corporation (“VSE” or the “Company”) (NASDAQ: VSEC), a leading provider of aftermarket distribution and repair services, announced today that it has priced its previously announced underwritten public offering of 2,112,676 shares of its common stock at a price to the public of $71.00 per share. VSE has also granted the underwriters a 30-day option to purchase up to an additional 316,901 shares of common stock. The offering is expected to close on May 17, 2024, subject to the satisfaction of customary closing conditions.

Net proceeds from the offering are expected to be approximately $141.0 million after deducting underwriting discounts and commissions and before estimated offering expenses. 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.

Jefferies, RBC Capital Markets and William Blair are acting as joint lead book-running managers for the offering. Stifel and Truist are also serving as joint book-running managers for the offering. B. Riley and Benchmark are serving as co-managers for the offering.

A shelf registration statement relating to the securities being offered has been filed with the Securities and Exchange Commission (the “SEC”) and has been declared effective. The offering is being made only by means of a preliminary prospectus supplement and accompanying prospectus. A preliminary prospectus supplement and accompanying prospectus relating to the offering have been filed with the SEC and are available free of charge on the SEC’s website at http://www.sec.gov. The final prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and may also be obtained, when available, from Jefferies LLC, Attn: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, New York 10022, by telephone at [phone] or by email at [e-mail], from RBC Capital Markets, LLC, 200 Vesey Street, 8th Floor, New York, NY 10281, Attention: Equity Capital Markets, Facsimile: [phone] or from William Blair & Company, L.L.C., Attention: Prospectus Department, 150 North Riverside Plaza, Chicago, Illinois 60606, by telephone at [phone] or by email at [e-mail].