Vectrus, Vertex complete combination

V2X announced the successful completion of Vectrus' combination with The Vertex Company, creating a provider of critical mission solutions and support to defense clients globally. In connection with the closing, the Company was renamed V2X, Inc. The company will continue to trade on the New York Stock Exchange under the ticker "VEC" through July 7, 2022. Beginning at the open of business on July 8, 2022, V2X's common stock will trade under the ticker symbol "VVX". V2X offers clients around the world a broad suite of technology and service capabilities to support national security readiness and modernization initiatives. As a larger, more diversified company, V2X delivers a comprehensive set of integrated solutions and critical service offerings across the operations and logistics, aerospace, training and technology markets to national security, defense, civilian and international clients. V2X intends to provide second half 2022 guidance when it reports its financial results for the second quarter on August 9, 2022, after market close. Senior management will conduct a conference call at 4:30 p.m. ET that same day. The V2X Board of Directors is comprised of 11 members, with appointments effective at the closing of the transaction: Six are continuing directors designated by Vectrus - Mary Howell, Melvin Parker, Eric Pillmore, Chuck Prow, Stephen Waechter and Phillip Widman; Five have been designated by Vertex - Ed Boyington, Dino Cusumano, Lee Evangelakos, Joel Rotroff and Neil Snyder. Ms. Howell will serve as Chairman of the Board. In connection with the close of the transaction, Vertex shareholders received approximately 18.6 million shares of Vectrus common stock. On a fully diluted basis, former Vertex stockholders own approximately 62% of V2X, while legacy Vectrus shareholders own approximately 38%, each as calculated at closing.