Kratos Defense & Security Solutions Inc. said Nov. 18 that it priced a new offering of 11.67 million shares of common stock at $6 a share. The offering is expected to close Nov. 23.
Kratos (Nasdaq: KTOS) has offered its underwriters a 30-day option to buy up to 1.75 million additional shares.
Kratos plans to use the proceeds for the company’s new high-performance unmanned combat aerial system program, as well as to pay down debt.
Underwriting the offering are Canaccord Genuity, B. Riley & Co. and Noble Financial Capital Markets.
On Nov. 18, shares of Kratos closed down 8.6 percent at $6.26.
