Defense firm V2X drops as PE sponsor trims stake in secondary offering

Shares of defense contractor V2X Inc VVX.N down 4.7% post-market to $49.88 after secondary offering announced

Mclean, Virginia-based co says 2 mln shares sold by Vertex Aerospace Holding with RBC as sole underwriter

Post offering, Vertex Aerospace, which is run by private equity firm American Industrial Partners, will continue to own ~12.2 mln shares, or approx 38.4% of the co

With ~31.7 mln shares outstanding, co has roughly $1.7 bln market cap

VVX shares on Thurs closed up 0.9% at $52.31, up 9% YTD

Of 11 analysts covering VVX, recommendation breakdown is 7 "strong buy" or "buy", 2 "hold" and 2 "sell"; median PT of $57 down from $63.50 a month ago - LSEG data

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