Elbit Systems falls after $512 mln equity raise

U.S.-listed shares of Israeli defense firm Elbit Systems ESLT.O down 4.9% before the bell at $376.50 after follow-on priced

Co said sold ~1.4 mln shares at $375 for gross proceeds of $512 mln to be used for general purposes

Offering priced at 5.3% discount to stock's last close

BofA, JP Morgan, Jefferies and Morgan Stanley jt bookrunners for offering

Elbit has ~44.7 mln shares outstanding, per the SEC prospectus filing, giving it~$17.7 bln market cap

Early Tues, Elbit posted 42% y/y jump in Q1 profit, and said expects an anti-missile laser system to be ready by year end

About one third of co's rev came from Israel, where the country has been fighting Palestinian militant group Hamas in Gaza, supplying munitions, drones, guided rocket systems, reconnaissance capabilities and other systems

Through Weds, shares up 53% YTD. Stock hit intraday record high of $426.40 on May 8