VSE Corporation has priced its upsized public offerings as part of its plans to acquire Precision Aviation Group, Inc., a portfolio company of GenNx360 Capital Partners. The company is offering 3,989,362 shares of its common stock at $188.00 per share, totaling approximately $750 million, and 8,000,000 tangible equity units with an aggregate stated amount of $400 million. The offerings were increased from their original amounts, reflecting strong interest. Net proceeds of about $1.11 billion are expected, and will be used to fund a portion of the purchase price for the acquisition. The completion of either offering is not contingent on the other, nor are they dependent on the completion of the acquisition or any debt financing. If the acquisition does not proceed, VSE intends to use the funds for general corporate purposes.
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