Los Angeles, CA, February 9, 2011-- B. Riley & Co., LLC (B. Riley) www.brileyco.com, a full service broker dealer providing research, investment banking, sales and trading, announced that it is acting as the co-lead manager in a $64.75 million common stock offering of approximately 4.887 million shares for Kratos Defense & Security Solutions, Inc. (Kratos) (NASDAQ: KTOS).
According to a press release issued by Kratos on February 8, 2011, the shares were priced at $13.25 per share with the offering expected to close on or about February 11, 2011, subject to customary closing conditions. Kratos also has granted the underwriters a 30-day option to purchase up to an aggregate of 637,500 additional shares of common stock to cover overallotments, if any. All of the shares in the offering are to be sold by Kratos.
Kratos expects to use the net proceeds from this offering to fund Kratos’ proposed acquisition of Herley Industries (NASDAQ: HRLY).
Bryant R. Riley led the banking team.
San Diego, California-based Kratos provides mission critical products, services and solutions for U.S. national security. Lancaster, Pennsylvania-based Herley is a leader in the design, development and manufacture of microwave technology solutions for the defense, aerospace and medical industries worldwide.
B. Riley has successfully completed over 350 engagements with more than $16 billion in aggregate transaction value in a variety of industry sectors, including Consumer, Retail, Restaurants, Technology, Electronics, Financial Services, Industrials, Business Services, and Special Situations.
ABOUT B. RILEY & CO.
B. Riley & Co. is a leading independent investment bank which provides a full array of corporate finance, research, sales, trading and otcqx dad services to corporate, institutional and high net worth individual clients. Investment banking services include merger and acquisitions advisory to public and private middle market companies, initial and secondary public offerings and institutional private placements. Its Corporate Governance Advisory Services Group is engaged by both companies and investors to help maximize value for shareholders. The firm is recognized for its distinguished Equity Research. Founded in 1997, B. Riley is headquartered in Los Angeles and maintains offices in Newport Beach, San Francisco, Philadelphia, and New York. It is a member of FINRA and SIPC. For more information, please visit www.brileyco.com.
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Bryant R. Riley
B. Riley & Co. LLC
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310-966-1444
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