The Firm recently represented the underwriters, led by Goldman Sachs & Co. LLC, in connection with the public offering of 15,525,000 shares of common stock (including 2,025,000 shares sold pursuant to the underwriters’ exercise of their option to purchase additional shares) of Kratos Defense & Security Solutions, Inc. (“Kratos”) (NASDAQ: KTOS). The gross proceeds from the offering were approximately $252.3 million. Kratos intends to use the net proceeds from the offering for general corporate purposes, including for potential strategic ‘‘tuck-in’’ acquisitions, to further position itself for projected growth from new and anticipated increased production and to facilitate its long-term strategy.
Kratos is a government contractor at the forefront of the U.S. Department of Defense’s recapitalization of strategic weapon systems to address peer and near peer threats and its related Rapid Innovation Initiatives. Kratos is a leading technology, intellectual property and proprietary product and system company focused on the U.S. and its allies’ national security.
The Simpson Thacher team for the transaction included Art Robinson, David Azarkh, Matthew Levy and Crystal Oparaeke (Capital Markets); Jonathan Cantor (Tax); Larry Moss and Eric Wolf (Executive Compensation and Employee Benefits); Lori Lesser and Melanie Jolson (Intellectual Property); Timothy Mulvihill (Environmental); and Jennie Getsin (FINRA).