Defense firm V2X falls after announcing secondary offering

Defense contractor V2X's VVX.N shares fall 5.8% to $50.20 premarket

VVX announces sale of 2 million shares by Vertex Aerospace in secondary offering

RBC Capital Markets is the sole underwriter for the offering

VVX has agreed to purchase 200,000 of shares in the offering from the underwriter

Following the offering, Vertex Aerospace will continue to own 32.3% of VVX

With 31.7 million outstanding shares, VVX has market cap of $1.7 billion

7 of 11 brokerages rate the stock "buy" or higher, 2 "hold" and 2 "sell"; median PT $58 - data compiled by LSEG

As of last close, VVX stock up 11.5% YTD