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Mayville Engineering Company, Inc. Announces Launch of Initial Public Offering

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Mayville Engineering Company, Inc. Announces Launch of Initial Public Offering

Mayville Engineering Company, Inc. (“MEC”) today announced the launch of
its initial public offering of 6,250,000 shares of common stock. The
initial public offering price is expected to be between $19.00 and
$21.00 per share, before underwriting discounts and commissions. In
addition, the company expects to grant 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. MEC’s existing stockholders will not sell any shares in the
offering. MEC has applied to list its common stock on the New York Stock
Exchange under the ticker symbol “MEC.”

MEC expects to receive gross proceeds of approximately $125.0 million
from the offering, or approximately $143.8 million if the underwriters
exercise their option in full, assuming the shares price at the
mid-point of the offering range. MEC intends to use the gross proceeds
from the offering to repay outstanding indebtedness and for general
corporate purposes.

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.

The offering will be made only by means of a prospectus. Copies of the
preliminary prospectus relating to this offering may be obtained from
Robert W. Baird & Co. Incorporated, Attention: Syndicate Department, 777
East Wisconsin Avenue, Milwaukee, WI 53202, by telephone at (800)
792-2473, or by email at syndicate@rwbaird.com;
Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, NY 11717, or by telephone at (800)
831-9146; or Jefferies LLC, Attention: Equity Syndicate Prospectus
Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by
telephone at (877) 821-7388, or by email at prospectus_department@jefferies.com.

A registration statement relating to these securities has been filed
with the SEC but has not yet become effective. It may be obtained by
visiting the SEC’s website www.sec.gov.
These securities may not be sold nor may offers to buy be accepted prior
to the time the registration statement becomes effective. This press
release shall not constitute an offer to sell or the solicitation of an
offer to buy these securities, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.

About MEC

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.

Cautionary Statement Concerning Forward-Looking Statements

Certain statements contained in this press release constitute
forward-looking statements within the meaning of the U.S. securities
laws. MEC’s management has based these forward-looking statements on its
current expectations, assumptions, estimates and projections with
respect to the offering and the proceeds it expects to receive from the
offering. While they believe these expectations, assumptions, estimates
and projections are reasonable, such forward-looking statements are only
predictions and involve known and unknown risks and uncertainties, many
of which are beyond management’s control. These statements involve risks
and uncertainties that may cause MEC’s actual results, performance or
achievements to differ materially from any future results, performance
or achievements expressed or implied by these forward-looking
statements. MEC undertakes no obligation to update or revise any of the
forward-looking statements contained herein, whether as a result of new
information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20190429005355/en/

SOURCE: Mayville Engineering Company, Inc.

Nathan ElwellLincoln Churchill Advisors(847) 530-0249nelwell@lincolnchurchilladvisors.com

Copyright Business Wire 2019

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