Kratos DefenseInc. (NASDAQ:KTOS) Files An 8-K Other Events

ME Staff 8-k
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Kratos DefenseInc. (NASDAQ:KTOS) Files An 8-K Other Events
Item 8.01 Other Events.

In connection with Kratos Defense & Security Solution, Inc.’s (the “Company”) recently closed $75,037,500 public offering (the “Offering”), the underwriters have exercised in full their over-allotment option to purchase 1,552,500 shares of common stock at a public offering price of $7.25 per share (the “Over-allotment Option”).

The exercise of the Over-allotment Option brings the total shares of common stock sold by the Company in the Offering to 11,902,500 shares. The Company expects to receive gross proceeds from the Offering, before commissions and expenses, of $86,293,125.

On March 1, 2017, the Company’s board of directors approved an increase to the Company’s note repurchase program which authorizes the Company to repurchase up to $100,000,000 of its 7% Senior Secured Notes due in 2019 (the “Notes”) over a two-year period, subject to compliance with applicable law and existing covenant restrictions under the Company’s Credit and Security Agreement, dated May 14, 2014, as amended. The Company expects to fund repurchases under the note repurchase program with cash and cash equivalents on hand. Under the program, management is authorized to purchase Notes from time to time through open market purchases or privately negotiated transactions, including by making a tender offer to the holders of the Notes, and to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended, subject to market conditions and other factors.


About Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS)

Kratos Defense & Security Solutions, Inc. offers various technologies, products and solutions focused on the United States and its allies’ national security. The Company’s segments include Kratos Government Solutions (KGS), Unmanned Systems (US) and Public Safety & Security (PSS). The KGS segment includes the operations of Defense Rocket Support Services (DRSS), Microwave Electronics Division (ME), Technical and Training Solutions (TTS), and Modular Systems (MS), which provide technology-based defense solutions, involving products and services, primarily for the United States National Security priorities. The US segment includes its unmanned aerial, ground, seaborne and command, control and communications system business. The PSS segment provides independent integrated solutions for homeland security, public safety, critical infrastructure, and security and surveillance systems for government and commercial applications.

Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) Recent Trading Information

Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) closed its last trading session down -0.14 at 7.26 with 2,716,988 shares trading hands.