Tuesday, June 21, 2022
Vectrus (VEC)
Vertex Combination Approved by Shareholders
For more than 70 years, Vectrus has provided critical mission support for our customers’ toughest operational challenges. As a high-performing organization with exceptional talent, deep domain knowledge, a history of long-term customer relationships, and groundbreaking technical expertise, we deliver innovative, mission-matched solutions for our military and government customers worldwide. Whether it’s base operations support, supply chain and logistics, IT mission support, engineering and digital integration, security, or maintenance, repair and overhaul, our customers count on us for on-target solutions that increase efficiency, reduce costs, improve readiness, and strengthen national security. Vectrus is headquartered in Colorado Springs, Colo., and includes about 8,100 employees spanning 205 locations in 28 countries. In 2021, Vectrus generated sales of $1.8 billion. For more information, visit the company’s website at www.vectrus.com or connect with Vectrus on Facebook, Twitter, and LinkedIn.
Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.
Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Shareholder Approval. Last week, Vectrus announced that Vectrus shareholders voted to approve the combination with Vertex. With shareholder approval, the combined company will be renamed V2X, Inc, and its common stock will trade on the NYSE under a new ticker symbol, “VVX”, following the close of the transaction, which is expected to occur early in the third quarter of 2022.
Overwhelming Approval. The shareholder vote was not close. Approximately 90% of the 11,826,663 share eligible to vote, voted. Question 1, to approve the issuance of Company Common Stock as merger consideration pursuant to the Agreement and Plan of Merger dated as of March 7, 2022, received the support of 89.7% of the shares that voted. Question 2, to approve an amendment and restatement of the Articles of Incorporation of the Company to change its name to “V2X, Inc.”, received 96.0% approval of shares that voted….
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
