Kratos Defense & Security Solutions, Inc. Prices Public Offering of Common Stock
San Diego, CA – Paul Hastings LLP, a leading global law firm, announced today that the firm represented Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS), a leading National Security Solutions provider, in the Company's underwritten public offering of 13,500,000 shares of its common stock at a purchase price of $16.25 per share. The underwriters will have a 30-day option to purchase up to an additional 2,025,000 shares of common stock from Kratos.
Kratos currently intends to use the net proceeds from the offering for general corporate purposes, including for potential strategic “tuck-in” acquisitions, to further position the Company for projected growth from new and anticipated increased production and to facilitate its long-term strategy.
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.
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