03:54 AM EDT, 05/15/2024 (MT Newswires) -- VSE (VSEC) said late Tuesday it priced a public offering of about 2.1 million common shares at $71 per share for expected net proceeds of around $141 million.

The company granted the offering's underwriters a 30-day option to purchase up to an additional 316,901 shares.

The offering, is scheduled to close on Friday, and VSE plans to use the proceeds to repay debt, fund its acquisition of Turbine Controls, and for general corporate purposes.

Price: 71.77, Change: -2.60, Percent Change: -3.50