Kratos Defense & Security to pay down debt with stock sale proceeds

By Angela McDaniels

Tacoma, Wash., Feb. 22 – Kratos Defense & Security Solutions, Inc. plans to use some of the proceeds of its $300 million public stock offering to pay down debt, according to a company news release.

Proceeds will also be used to facilitate the company’s long-term strategy, to strengthen its balance sheet and for general corporate purposes.

The stock offering has a $45 million greenshoe and is expected to close on Feb. 27.

Kratos makes technology, products, system and software company for the defense, national security and commercial markets and is based in San Diego.

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