Kratos Defense announces $500M common stock offering

Kratos Defense (KTOS) & Security Solutions announced that it intends to offer for sale $500M 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 to (i) 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; (ii) to finance important customer and program targeted acquisitions; (iii) and for general corporate purposes, including pay-down of debt and to pay fees and expenses in connection with the offering. Baird, RBC Capital Markets, Truist Securities, and Raymond James are acting as joint book-running managers for the offering.