MEC · Mayville Engineering Company, Inc.

On May 19, 2026, Mayville Engineering Company, Inc. (NYSE: MEC) entered into an underwriting agreement with William Blair & Company, L.L.C. and Craig-Hallum Capital Group LLC, as representatives of the underwriters, to issue and sell 4,348,000 shares of its common stock in an underwritten public offering. The underwriters were granted a 30-day option to purchase up to an additional 652,000 shares, which was fully exercised on May 20, 2026, bringing total shares offered to 5,000,000. The offering price was set at $20.00 per share, resulting in gross proceeds of approximately $100 million before underwriting discounts and expenses. Net proceeds are estimated at approximately $93.9 million. The company intends to use the net proceeds primarily to reduce outstanding borrowings under its senior secured revolving credit facility, with a portion of that reduction tied to debt incurred for the Accu-fab acquisition in July 2025. Remaining proceeds will be allocated to capital expenditures in growth sectors, working capital, and general corporate purposes. The credit facility, which bears interest at 6.42% as of March 31, 2026, matures on June 28, 2028. The offering is expected to close on May 21, 2026, subject to customary closing conditions. This capital raise strengthens MEC's balance sheet by deleveraging and provides flexibility for organic growth initiatives.