Kratos Defense (KTOS) Prices 13.5M Share Common Offering at $16.25/Sh

Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS) today announced the pricing of an underwritten offering of 13,500,000 shares of its common stock at a public offering price of $16.25 per share pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission (the “SEC”). The net proceeds to Kratos from the offering, after deducting underwriting discounts and commissions, are expected to be approximately $209.0 million. Kratos has also granted the underwriters a 30-day option to purchase up to an additional 2,025,000 shares of common stock. All of the shares in the offering are to be sold by Kratos. The offering is expected to close on June 23, 2020, subject to customary closing conditions.

Kratos expects to use the net proceeds from this 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.

Goldman Sachs & Co. LLC is acting as sole book-running manager for the offering. Baird and Canaccord Genuity are acting as senior co-managers for the offering. SunTrust Robinson Humphrey, Benchmark Company, B.Riley FBR, Noble Capital Markets and Academy Securities are acting as co-managers for the offering.

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