By Dean Seal
Shares of AeroVironment fell after the company said it plans to offer $750 million worth of common stock and $600 million worth of convertible notes.
The stock was down 7.5% at $263.60 in aftermarket trading. Shares had gained 85% year-to-date when the market closed.
The defense contractor said it would use proceeds from the offerings to pay off debt under its term loan and outstanding borrowings under its revolving credit facility.
Remaining proceeds will be used for general corporate purposes, including increasing its manufacturing capacity, AeroVironment said.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
June 30, 2025 17:26 ET (21:26 GMT)
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