The company currently trading as ‘VEC’ on New York Stock Exchange will trade under the new ticker symbol ‘VVX’ from 8 July.
Further, Vertex shareholders secured over 18.6 million shares of Vectrus common stock.
The latest transaction has established the new company as a key mission solutions provider to support global defence customers.
V2X chief executive officer Chuck Prow said: “Through this transformative combination, we created a company with the scale and ability to compete for large integrated business opportunities by providing full life-cycle support across the converged environment.”
The combined entity will have 11 members on its Board of Directors. While six members are continuing directors designated by Vectrus, five have been appointed by Vertex . Mary Howell will be the board chairman.
While Goldman Sachs & Co served as exclusive financial advisor, Skadden, Arps, Slate, Meagher & Flom and Covington & Burling acted as legal counsels to Vectrus.
Ernst & Young and Wolf Den Associates also contributed as Vectrus’ advisors.
Meanwhile, Vertex has RBC Capital Markets, and Evercore as its financial advisors.
V2X , as a diversified company, offers integrated solutions in the fields of logistics, aerospace, training and technology to cater to national security, defence, civilian and international customers.
The new company plans to provide second half 2022 guidance after releasing its second quarter financial results on 9 August this year.
V2X offers integrated solutions to cater to defence, national security, civilian and international customers. Credit: ArmyAmber from Pixabay.