Kratos Defense & Security to price public offering of its common stock

Shareholder Oak Investment invests $55 million; B. Riley is bookrunner

By Devika Patel

Knoxville, Tenn., May 8 - Kratos Defense & Security Solutions, Inc. said it plans to price a public sale of stock. Existing shareholder Oak Investment Partners has said it plans to invest $55 million.

B. Riley & Co., LLC is the sole bookrunning manager.

Proceeds will fund the cash component of the company's planned acquisition of Composite Engineering, Inc. and will also be used for general corporate purposes.

Kratos is a San Diego-based provider of engineering, manufacturing and system integration for national security platforms and programs.

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