By Devika Patel
Knoxville, Tenn., Aug. 28 - Kratos Defense & Security Solutions Inc. arranged an $18.72 million registered direct offering of stock, according to a prospectus supplement filed Friday with the Securities and Exchange Commission.
The company will sell 26 million common shares at $0.72 apiece.
Settlement is expected Sept. 2.
B. Riley & Co., LLC is the agent.
Proceeds will be used for debt repayment, acquisitions and general corporate purposes.
Kratos is a San Diego-based provider of engineering, internet technology services and warfighter services.
Issuer: | Kratos Defense & Security Solutions Inc.
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Issue: | Common stock
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Amount: | $18.72 million
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Shares: | 26 million
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Price: | $0.72
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Warrants: | No
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Agent: | B. Riley & Co., LLC
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Pricing date: | Aug. 28
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Settlement date: | Sept. 2
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Stock symbol: | Nasdaq: KTOS
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Stock price: | $0.80 at close Aug. 27
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Market capitalization: | $104 million
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