Mayville Engineering Company Inc. (MEC) IPO Opens Flat

Today's IPO for Mayville Engineering Company, Inc. (NYSE: MEC) opened for trading earlier at $17.05 after pricing its offering of 6,250,000 shares of common stock at a price to the public of $17.00 per share.

In addition, MEC has granted the underwriters a 30-day option to purchase up to an additional 937,500 shares of common stock at the initial public offering price, less underwriting discounts and commissions.

Baird, Citigroup and Jefferies are acting as lead book-running managers for the offering. UBS Investment Bank and William Blair are also acting as joint book-running managers for the offering.

Founded in 1945, MEC is a leading U.S.-based value-added manufacturing partner that provides a broad range of prototyping and tooling, production fabrication, coating, assembly and aftermarket services. Our customers operate in diverse end markets, including heavy- and medium-duty commercial vehicle, construction, powersports, agriculture, military and other end markets. Along with process engineering and development services, MEC maintains an extensive manufacturing infrastructure in 21 facilities across eight states. These facilities make it possible to offer conventional and CNC stamping, shearing, fiber laser cutting, forming, drilling, tapping, grinding, tube bending, machining, welding, assembly and logistic services. MEC also possesses a broad range of finishing capabilities including shot blasting, e-coating, powder coating, wet spray and military grade chemical agent resistant coating (CARC) painting.

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