Kratos Defense & Security Solutions, Inc. Announces Proposed Public Offering of Common Stock
SAN DIEGO, June 17, 2020 (GLOBE NEWSWIRE) -- Kratos
Defense & Security Solutions, Inc. (“Kratos”) (Nasdaq: KTOS), a
leading National Security Solutions provider, today announced that it
intends to offer for sale $200,000,000 of shares of its common stock in an
underwritten offering pursuant to an effective shelf registration statement
filed with the Securities and Exchange Commission (the “SEC”). The
underwriters will have a 30-day option to purchase up to an additional
$30,000,000 of shares of common stock from Kratos. All of the shares in the
offering are to be sold by Kratos.
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 the sole book-running manager for the offering.
The securities described above are being offered pursuant to an automatic shelf registration statement on Form S-3ASR (File No. 333-220339) that was previously filed by Kratos with the SEC and automatically became effective upon filing on September 5, 2017. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, these securities, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale is not permitted.
A preliminary prospectus supplement and accompanying prospectus describing the terms of the proposed offering will be filed with the SEC. Copies of the preliminary prospectus supplement and accompanying prospectus relating to the offering may be obtained, when available, from Goldman Sachs & Co. LLC, Prospectus Department, 200 West Street, New York, NY 10282, by telephone at (866) 471-2526, or by email at prospectus-ny@ny.email.gs.com. Electronic copies of the preliminary prospectus supplement and accompanying prospectus will also be available on the SEC’s website at www.sec.gov.
About Kratos Defense & Security
Solutions
Kratos Defense & Security Solutions,
Inc. (NASDAQ:KTOS) develops and fields transformative, affordable
technology, platforms and systems for United States National Security
related customers, allies and commercial enterprises. Kratos is changing
the way breakthrough technology for these industries are rapidly brought to
market through proven commercial and venture capital backed approaches,
including proactive research and streamlined development
processes. Kratos specializes in unmanned systems, satellite
communications, cyber security/warfare, microwave electronics, missile
defense, hypersonic systems, training and combat systems, and
next-generation turbojet and turbo-fan engine development.
Notice Regarding Forward-Looking Statements
Certain statements in this press release may constitute
"forward-looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995. Such statements relate to a variety of
matters, including, without limitation, Kratos’ expectations regarding
the sale of shares of its common stock in the proposed public offering, use
of the expected proceeds from the proposed public offering and other
statements that are not purely statements of historical fact. These
forward-looking statements are made on the basis of the current beliefs,
expectations and assumptions of the management of Kratos and are subject to
significant risks and uncertainty. Investors are cautioned not to place
undue reliance on any such forward-looking statements. All such
forward-looking statements speak only as of the date they are made, and
Kratos undertakes no obligation to update or revise these statements,
whether as a result of new information, future events or otherwise.
Although Kratos believes that the expectations reflected in these
forward-looking statements are reasonable, these statements involve many
risks and uncertainties that may cause actual results to differ materially
from what may be expressed or implied in these forward-looking statements
including, but not limited to: risks and uncertainties related to market
conditions, the satisfaction of customary closing conditions related to the
proposed public offering, as well as general economic factors. There can be
no assurance that Kratos will be able to complete the proposed public
offering on the anticipated terms, or at all. For a further discussion of
risks and uncertainties that could cause actual results to differ from
those expressed in these forward-looking statements, as well as risks
relating to the business of Kratos in general, see the risk disclosures in
the Annual Report on Form 10-K of Kratos for the year ended December 29,
2019, and in subsequent reports on Forms 10-Q and 8-K and other filings
made with the SEC by Kratos.
Press Contact: Yolanda White 858-812-7302 Direct Investor Information: 877-934-4687 investor@kratosdefense.com |