Mayville Engineering Company announced the closing of its underwritten public offering of 5,000,000 shares of common stock at a public offering price of $20.00 per share, generating total gross proceeds of approximately $100 million before underwriting discounts, commissions, and offering expenses.
The total amount raised includes the full exercise by the underwriters of their option to purchase an additional 652,000 shares of common stock.
William Blair & Company and Craig-Hallum Capital Group served as lead book-running managers for the offering, while Northland Securities acted as co-manager.
MEC said it plans to use the net proceeds from the offering to reduce outstanding borrowings under its senior secured revolving credit facility, fund capital expenditures focused on growth sectors, and support working capital and other general corporate purposes. The company noted that a portion of the debt expected to be repaid was incurred in connection with the acquisition of Accu-fab, which MEC completed in July 2025.
The company’s senior secured revolving credit facility matures on June 28, 2028. As of March 31, 2026, the facility carried an interest rate of 6.42%.
The offering was completed pursuant to a shelf registration statement previously filed with the U.S. Securities and Exchange Commission. MEC said the final prospectus supplement relating to the offering was filed with the SEC on May 20, 2026.
Founded in 1945, MEC is a U.S.-based vertically integrated manufacturing partner that provides design, prototyping, tooling, fabrication, coating, assembly, and aftermarket component solutions. The company serves a range of industries including commercial vehicles, construction equipment, powersports, datacenter and critical power, agriculture, and military markets. MEC operates 27 facilities across nine U.S. states, with 22 currently in use.
KEY QUOTES:
“MEC intends to use the net proceeds from the offering, including the proceeds received in connection with the exercise of the Option, 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.”
Mayville Engineering Company
“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.”
Mayville Engineering Company
