Kratos Defense announces $1B common stock offering

Kratos Defense (KTOS) & Security Solutions announced that it intends to offer for sale $1B of shares of its common stock in an underwritten offering pursuant to an effective shelf registration statement filed with the SEC. All of the shares in the offering are to be sold by Kratos. The proposed offering is subject to market and other conditions. Kratos expects to use the net proceeds of the offering (i) to finance customer and program targeted acquisitions, (ii) to fund investments and capital expenditures to scale and successfully execute on large, mission critical National Security priorities related to existing programs, recent program awards and significant high-probability pipeline opportunities, and (iii) for general corporate purposes, including to pay fees and expenses in connection with the offering. Baird, Raymond James, RBC Capital Markets and Truist Securities are acting as joint book-running managers for the offering.