V2X, Inc. (VVX) shares plummeted 5.00% during intraday trading on Friday, following the announcement of a significant secondary offering by a major shareholder.

The decline comes after Vertex Aerospace Holdco, an entity run by private equity firm American Industrial Partners, priced an underwritten secondary offering of approximately 2 million common shares at $74.35 apiece, representing a total value of about $149 million. The offering was priced at a 1.4% discount to the stock's previous closing price.

Following the completion of this transaction, Vertex Aerospace will end its direct ownership in V2X. An affiliated entity will retain a stake of approximately 1.2% of the company's total shares outstanding. The company itself is not selling any equity or receiving proceeds from the deal.