Simpson Thacher Represents Underwriters in $1.4 Billion Follow-On Offering of Kratos Defense & Security Solutions

"Simpson Thacher represented the underwriters, led by Robert W. Baird & Co., in a $1.4 billion follow-on public offering of 16,428,571 shares (including 2,142,857 shares sold under the underwriters’ option) of Kratos Defense & Security Solutions common stock. Kratos said net proceeds will fund capital expenditures to scale operations for Department of Defense and national security programs, invest in product and software development, strengthen its balance sheet for anticipated contracts, finance the recent Nomad acquisition and pending Orbit acquisition, pursue strategic M&A, and cover general corporate purposes. The Simpson Thacher deal team included David Azarkh, Patrick Baron, Erin Camia, Michael Mann, Kris Liu, Pasco Struhs, Corina Holland, Tally Smitas and Jennie Getsin."

Simpson Thacher & Bartlett represented the underwriters — led by Robert W. Baird & Co. Incorporated — in the follow-on offering for Kratos Defense & Security Solutions. The transaction was a $1.4 billion follow-on public offering of 16,428,571 shares of Kratos common stock (including 2,142,857 shares sold pursuant to the underwriters’ option to purchase additional shares). Kratos said it intends to use the net proceeds to (i) make capital expenditures to scale operations and meet growing demands of the Department of War and national security customers, (ii) invest in new product, system and software development (including National Security Systems), (iii) strengthen the company’s balance sheet to support anticipated contract awards, (iv) fund the recent acquisition of Nomad, the pending acquisition of Orbit and select future strategic M&A opportunities, and (v) for general corporate purposes, including paying fees and expenses related to the offering. The Simpson Thacher team on the matter included: David Azarkh (Capital Markets); Patrick Baron (Capital Markets); Erin Camia (Capital Markets); Michael Mann (Tax); Kris Liu (Tax); Pasco Struhs (Executive Compensation and Employee Benefits); Corina Holland (Intellectual Property); Tally Smitas (Intellectual Property); and Jennie Getsin (FINRA). The press release did not specify individual seniority levels.

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Simpson Thacher Represents Underwriters in $1.4 Billion Follow-On Offering of Kratos Defense & Security Solutions

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Simpson Thacher Represents Underwriters in $1.4 Billion Follow-On Offering of Kratos Defense & Security Solutions

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