Every 424B that VSE Corp (VSEC) has filed with the SEC in the last 12 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 424B covers the supplement that carries the terms of a priced offering, so if you follow VSEC and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full VSEC filings page.
VSE Corporation is offering 8,000,000 tangible equity units at $50.00 each, for total gross proceeds of $400 million. Each 5.750% Unit combines a prepaid stock purchase contract with a senior amortizing note due February 1, 2029, paying quarterly cash installments equivalent to a 5.750% annual rate on the $50 stated amount.
VSE has granted underwriters a 30-day option to buy up to an additional 1,200,000 Units. The company expects net proceeds of about $388 million before expenses and intends to use them, together with a concurrent common stock offering, to fund part of the $1.75 billion cash portion of its planned $2.025 billion acquisition of Precision Aviation Group’s parent. If that acquisition does not close, proceeds may be used for general corporate purposes, including debt repayment.
VSE Corporation is offering 3,989,362 shares of common stock at $188.00 per share, for gross proceeds of about $750.0 million and estimated net proceeds of about $721.9 million before expenses. Underwriters have a 30‑day option to buy up to 598,404 additional shares at the same price, less discounts.
The company is conducting a concurrent $400.0 million tangible equity unit offering under a separate prospectus supplement. VSE plans to use the stock and unit proceeds, together with about $700 million of new term loan financing, to fund a portion of the $2.025 billion pending acquisition of Precision Aviation Group’s parent, PAG HoldCo. If that acquisition does not close, VSE expects to use proceeds for general corporate purposes, including potential debt repayment.
Preliminary 2025 estimates show full‑year operating income of approximately $84–91 million and estimated Adjusted EBITDA of roughly $176–184 million. VSE highlights integration and execution risks around recent and pending acquisitions and notes that this equity and unit issuance will dilute existing shareholders.
VSE Corporation plans a primary offering of $350,000,000 of tangible equity units, consisting of 7,000,000 Units with a $50 stated amount each. Every Unit combines a prepaid stock purchase contract with a senior amortizing note due February 1, 2029, paying fixed quarterly cash installments.
The number of VSE common shares ultimately delivered per purchase contract will vary with the stock’s market value near settlement, with early settlement, early mandatory settlement and fundamental change features. VSE has applied to list the Units on Nasdaq under the symbol VSECU.
Concurrently, VSE is separately offering $650,000,000 of common stock, with proceeds from both offerings intended to fund part of the $1.75 billion cash portion of its planned $2.025 billion acquisition of Precision Aviation Group’s parent. Additional new debt facilities of up to $1.95 billion are committed to support this transaction. If the PAG deal does not close, net proceeds from these offerings may be used for general corporate purposes, including debt repayment.
VSE Corporation is offering $650,000,000 of common stock, with an additional $97,500,000 available to underwriters through an option. This primary equity sale is part of a broader financing plan tied to VSE’s aviation growth strategy.
Concurrently, VSE is offering $350,000,000 of tangible equity units in a separate deal, each unit combining a prepaid stock purchase contract and a senior amortizing note due February 1, 2029. VSE intends to use net proceeds from both offerings, along with new term loans and cash on hand, to help fund the $2.025 billion pending acquisition of Precision Aviation Group’s parent, which includes $1.75 billion in cash and $275 million in rollover equity plus up to $125 million in contingent earnout payments.
If the PAG acquisition is not completed, VSE plans to use the equity and unit proceeds for general corporate purposes, including potential debt repayment. The company also provides preliminary 2025 results, estimating full‑year Adjusted EBITDA between $176 million and $184 million, and highlights recent portfolio moves such as the $350 million Aero 3 acquisition and the sale of its Fleet and Federal & Defense segments to focus on aviation.
VSE Corporation (VSEC) is offering 2,352,941 shares of common stock at $170.00 per share in a primary offering. The company granted underwriters a 30‑day option to purchase up to 352,941 additional shares at the public price less the discount.
Gross proceeds are $399,999,970, with underwriting discounts of $15,999,998.80, resulting in proceeds to VSE of $383,999,971.20 before expenses. The company estimates net proceeds of approximately $384.0 million (or $441.6 million if the option is fully exercised).
VSE intends to use the net proceeds to fund all or a portion of the approximately $350 million cash consideration for its planned acquisition of Aero 3, to support potential future strategic acquisitions, and for general corporate purposes, including possible repayment under its Revolving Facility. Shares outstanding were 20,686,361 as of September 30, 2025.
VSE Corporation (VSEC) launched a primary offering of common stock via a preliminary prospectus supplement. The company will receive the proceeds, and the underwriters have a 30‑day option to purchase additional shares at the public offering price, less the underwriting discount. Joint book‑runners are Jefferies, Morgan Stanley, RBC Capital Markets and William Blair.
Use of proceeds is targeted to fund all or a portion of the cash consideration for the planned acquisition of Aero 3, Inc. for approximately $350 million, to support potential future strategic acquisitions, and for general corporate purposes. The Aero 3 deal is expected to close in the fourth quarter of 2025, subject to regulatory approvals and customary conditions. As context, shares outstanding were 20,686,361 as of September 30, 2025. The Nasdaq closing price was $182.99 per share on October 24, 2025. As of September 30, 2025, revolving loans outstanding under the Revolving Facility were approximately $61.6 million with a weighted average interest rate of 5.99% and a $400.0 million maximum borrowing capacity maturing on May 2, 2030.