Firefly Aerospace shares dropped 3.3% in overnight trading following the company’s announcement of a public stock offering.

Firefly disclosed plans to offer 4,000,000 shares of common stock, while certain selling stockholders will offer 8,000,000 shares. The selling stockholders have granted underwriters a 30-day option to purchase up to an additional 1,800,000 shares at the public offering price, less underwriting discounts and commissions.

The space and defense technology company said it intends to use the net proceeds from the offering for general corporate purposes, including supporting growth of its core business and recently awarded programs. Firefly will not receive any proceeds from the sale of shares by the selling stockholders.

Goldman Sachs & Co. LLC, J.P. Morgan, Jefferies, and Wells Fargo Securities are serving as lead book-running managers for the proposed offering.

The offering was announced pursuant to a registration statement on Form S-1 filed with the U.S. Securities and Exchange Commission. The company noted the offering is subject to market and other conditions, with no assurance as to whether or when it may be completed.

The announcement came after Firefly’s stock rose 18.8% during Tuesday’s regular trading session following news that the company won a $75 million NASA contract for a lunar drone mission.