Shares of V2X were trading lower in the after-hours market following news of an underwritten public offering of 2 million shares by a selling stockholder.
The selling shareholder also plans to grant the underwriters an option to purchase up to 300,000 additional shares.
After the bell, V2X’s shares were trading 7% lower at $49.60 per share. The stock finished Wednesday’s regular session with a loss of 2.1% at $53.35. Year to date, shares are up 14%.
The company, which provides solutions and support to defense clients, has 31.56 million shares outstanding and a public float of 12.07 million shares.