Mayville Engineering Company Announces Pricing of $86.9 Million Underwritten Public Offering of Common Stock
Mayville Engineering Company(NYSE: MEC) (the “Company” or “MEC”), a leading value-added provider of design, prototyping and manufacturing solutions serving diverse end markets, today announced the pricing of its underwritten public offering of 4,348,000 shares of its common stock at a public offering price of $20 per share, for total gross proceeds of approximately $86.9 million, before deducting underwriting discounts and commissions and other offering expenses payable by MEC. All of the shares in the offering are being sold by MEC. In addition, MEC has granted the underwriters a 30-day option to purchase up to 652,000 additional shares of its common stock at the public offering price, less the underwriting discounts and commissions. The offering is expected to close on May 21, 2026, subject to the satisfaction of customary closing conditions.
William Blair & Company, L.L.C. and Craig-Hallum Capital Group LLC are acting as lead book-running managers for the offering. Northland Securities, Inc. is acting as a co-manager for the offering.
MEC intends to use the net proceeds from the offering, if completed, for reducing amounts outstanding under its senior secured revolving credit facility, capital expenditures focused on relevant growth sectors and working capital and general corporate purposes. A portion of the amounts expected to be repaid under the Company’s senior secured revolving credit facility are attributable to amounts borrowed to complete the Accu-fab acquisition, which MEC completed in July 2025. The Company’s senior secured revolving credit facility matures on June 28, 2028 and, as of March 31, 2026, the interest rate of such facility was 6.42%.
