02:15 PM EDT, 06/26/2025 (MT Newswires) -- (Updates with stock price movement in the headline and first paragraph.)

Kratos Defense & Security Solutions (KTOS) shares fell 3.5% in recent Thursday intraday trading after it priced a public offering of about 13 million common shares at $38.50 per share.

The underwriters have been granted a 30-day option to purchase up to 1.9 million additional shares.

Net proceeds, estimated to be about $483.8 million, will be used to fund investments, capital expenditures, acquisitions, and general corporate purposes, the company said.

Closing of the offering is expected to occur Friday, subject to customary closing conditions.

Price: 40.92, Change: -1.41, Percent Change: -3.33