Mayville Engineering (MEC) has started an underwritten public offering of shares, subject to market conditions, the company said late Tuesday.
The company will grant underwriters a 30-day option to buy up to an additional 15% of the shares, it said.
Mayville plans to use net proceeds to decrease amounts outstanding under its revolving credit facility, as well as for capital expenditures, working capital and general corporate purposes, it added.
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