Mayville Engineering closes $100 million stock offering

Mayville Engineering Company (NYSE: MEC) completed its underwritten public offering of 5 million shares of common stock at $20 per share, generating gross proceeds of $100 million before fees and expenses, according to a company statement.

The offering included the full exercise of underwriters' option to purchase an additional 652,000 shares. William Blair & Company and Craig-Hallum Capital Group served as lead book-running managers, with Northland Securities acting as co-manager.

MEC plans to use net proceeds to reduce amounts outstanding under its senior secured revolving credit facility, fund capital expenditures in growth sectors, and support working capital and general corporate purposes. A portion of the facility repayment relates to amounts borrowed for the Accu-fab acquisition completed in July 2025.

The company's senior secured revolving credit facility matures on June 28, 2028, and carried a 6.42% interest rate as of March 31, 2026.

The shares were offered under a shelf registration statement filed with the Securities and Exchange Commission on March 7, 2024, amended on May 8, 2024, and declared effective on May 20, 2024.

MEC operates as a vertically-integrated manufacturing partner serving diverse end markets including commercial vehicles, construction equipment, powersports, datacenter applications, agriculture, and military sectors. The company maintains 27 facilities across nine states, with 22 currently in use.

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