Kratos Defense prices $1.2 billion stock offering at $84 per share

Kratos Defense & Security Solutions Inc. (NASDAQ: KTOS) announced the pricing of an underwritten public offering of 14,285,714 shares of common stock at $84.00 per share. The defense technology company expects to receive approximately $1.17 billion in net proceeds after deducting underwriting discounts and commissions.

The company has granted underwriters a 30-day option to purchase up to an additional 2,142,857 shares. The offering is expected to close on March 2, 2026, subject to customary closing conditions.

Kratos plans to use the proceeds for capital expenditures to scale operations and meet customer demands, investment in product development, balance sheet strengthening, funding recent and pending acquisitions including Nomad and Orbit, and general corporate purposes.

The shares are being offered through an automatic shelf registration statement on Form S-3ASR that became effective upon filing with the Securities and Exchange Commission on February 26, 2026.

Baird, Raymond James, RBC Capital Markets and Truist Securities serve as joint book-running managers for the offering.

San Diego-based Kratos provides technology, hardware, products, systems and software for defense, national security and commercial markets. The company's business areas include satellite ground systems, unmanned aerial systems, hypersonic vehicles, propulsion systems, and electronic products for various defense applications.

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