LOS ANGELES, Nov. 29, 2016 /PRNewswire/ -- B. Riley &
Co., LLC (B. Riley), a full service investment bank and a
wholly-owned subsidiary of B. Riley Financial, Inc. (NASDAQ: RILY),
acted as a joint book-running manager in the underwritten public
offering of 11.67 million shares of common stock for Kratos Defense
& Security Solutions, Inc. (Kratos).
Kratos priced the 11.67 million shares of its common stock at
$6.00 per share. In addition, the
underwriters exercised their option to purchase an additional
1,750,500 shares resulting in gross proceeds of approximately
$80.5 million. The offering closed on
November 23, 2016.
About Kratos Defense & Security Solutions, Inc.
Kratos Defense & Security Solutions, Inc. (NASDAQ:
KTOS) is a mid-tier government contractor at the forefront of the
Department of Defense's Third Offset
Strategy. Kratos is a leading technology,
intellectual property and proprietary product and solution company
focused on the United States and its allies' national
security. Kratos is the industry leader in high
performance unmanned aerial drone target systems used to test
weapon systems and to train the warfighter, and is a provider of
high performance unmanned combat aerial systems for force
multiplication and amplification. Kratos is also an
industry leader in satellite communications, microwave electronics,
cyber security/warfare, missile defense and combat
systems. Kratos has primarily an engineering and
technically oriented work force of approximately 2,800.
Substantially all of Kratos' work is performed on a
military base, in a secure facility or at a critical infrastructure
location. Kratos' primary end customers are National
Security related agencies.
About B. Riley & Co., LLC
B. Riley & Co., LLC is a leading investment bank which
provides corporate finance, research, and sales & trading to
corporate, institutional and high net worth individual clients. The
firm is nationally recognized for its highly ranked proprietary
equity research. B. Riley & Co., LLC is a member
of FINRA and SIPC.
B. Riley Financial, Inc. (NASDAQ: RILY) is a publicly
traded, diversified financial services company which takes a
collaborative approach to the capital raising and financial
advisory needs of public and private companies and high net worth
individuals. The company also makes proprietary investments in
other businesses where B. Riley Financial, Inc. is
uniquely positioned to leverage its expertise and assets in order
to maximize value. The Company operates through several
wholly-owned subsidiaries, including B. Riley & Co.,
LLC (www.brileyco.com), Great American Group,
LLC (www.greatamerican.com), Great American Capital
Partners (www.gacapitalpartners.com) and B. Riley Capital
Management, LLC (which includes B. Riley Asset Management and
B. Riley Wealth Management, (www.brileywealth.com). Since the
acquisition of United Online, Inc. (www.untd.com)
in July 2016, B. Riley Financial, Inc. also provides
internet access services under the NetZero and Juno
brands.
This communication shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
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