04:17 PM EDT, 05/14/2024 (MT Newswires) -- VSE (VSEC) said late Tuesday it started an underwritten public share offering.

Underwriters will be given a 30-day option to buy up to an additional 15% of the shares offered, the company said.

Net proceeds will be used to repay outstanding debt under a revolving loan facility, including borrowings to back the acquisition of Turbine Controls, and to support future acquisitions, VSE said.

Price: 74.11, Change: -0.26, Percent Change: -0.35