Deal Details

Kratos Completes $252.3 Million Follow-On Offering.

Industrial
Technology & Services

Kratos follow-on offering

Summary

Kratos Defense & Security Solutions, Inc. (“Kratos”) (NASDAQ: KTOS) recently completed a follow-on offering of 15,525,000 shares of its common stock at a price of $16.25 per share, which included the exercise in full by the underwriters of their option to purchase an additional 2,025,000 shares of common stock, generating gross proceeds of $252.3 million. In addition, Kratos has granted the underwriters a 30-day option to purchase up to an additional 2,025,000 shares of common stock. Kratos expects to use the net proceeds from this offering for general corporate purposes, including for potential strategic "tuck-in" acquisitions, to further position Kratos for projected growth from new and anticipated increased production and to facilitate its long-term strategy.

Baird served as senior co-manager on this offering.

About

Kratos Defense & Security Solutions, Inc. develops and fields transformative, affordable technology, platforms and systems for United States National Security related customers, allies and commercial enterprises. Kratos is changing the way breakthrough technology for these industries are rapidly brought to market through proven commercial and venture capital backed approaches, including proactive research and streamlined development processes. Kratos specializes in unmanned systems, satellite communications, cyber security/warfare, microwave electronics, missile defense, hypersonic systems, training and combat systems, and next-generation turbojet and turbo-fan engine development. Kratos is headquartered in San Diego, California.