Kratos Defense & Security Solutions, Inc. has announced a proposed public offering of common stock worth $500,000,000. The company intends to use the net proceeds from the offering for various purposes including funding investments and capital expenditures, financing customer and program targeted acquisitions, and for general corporate purposes. The underwriters will have a 30-day option to purchase up to an additional $75,000,000 of shares of common stock from Kratos.
The offering is being made pursuant to an automatic shelf registration statement on Form S-3ASR that was previously filed by Kratos with the Securities and Exchange Commission and automatically became effective upon filing on February 21, 2024.
Baird, RBC Capital Markets, Truist Securities, and Raymond James are acting as joint book-running managers for the offering.
Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS) is a technology, products, system, and software company addressing the defense, national security, and commercial markets. The company makes true internally funded research, development, capital, and other investments to rapidly develop, produce, and field solutions that address customers' mission-critical needs and requirements.
The company's primary business areas include virtualized ground systems for satellites and space vehicles, jet-powered unmanned aerial drone systems, hypersonic vehicles and rocket systems, propulsion systems for drones, missiles, and other systems, C5ISR and microwave electronic products, and virtual & augmented reality training systems for the warfighter. As a result of these announcements, the company's shares have moved 10.91% on the market, and are now trading at a price of $45.84. If you want to know more, read the company's complete 8-K report here.
