Kratos Announces Results of Tender Offer for 7.000% Senior Secured Notes Due 2019
September 22 2015 - 6:00AM
Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a
leading National Security Solutions provider, announced today the
results of its previously announced cash tender offer for up to
$175 million aggregate principal amount of its 7.000% Senior
Secured Notes due 2019 (CUSIP No. 50077BAL2) (“Notes”) on the
terms and conditions set forth in the Offer to Purchase dated
August 24, 2015 and related Letter of Transmittal. The tender offer
expired at 11:59 p.m., New York City time, on September 21, 2015
(the “Offer Expiration Date”).
As of the Offer Expiration Date, $618,647,000
aggregate principal amount of the Notes had been validly tendered,
of which $175 million aggregate principal amount was accepted by
Kratos for purchase (after applying a proration factor of
approximately 28.3207% and the proration procedures described in
the Offer to Purchase). Kratos will pay total consideration for the
tendered Notes at par, plus accrued and unpaid interest to, but not
including, the date on which the tendered Notes are paid, which is
expected to be September 22, 2015. Kratos will fund the payment for
tendered and accepted Notes with a portion of the net proceeds
resulting from the sale of the U.S. and U.K. operations of Kratos’
Electronic Products Division. Notes not tendered in the tender
offer will remain outstanding.
Kratos retained SunTrust Robinson Humphrey, Inc.
to act as dealer manager and D.F. King & Co. to act as tender
agent and information agent for the tender offer.
About Kratos Defense & Security
SolutionsKratos Defense & Security Solutions, Inc.
(Nasdaq:KTOS) is a specialized Technology Company providing mission
critical products, solutions and services for United States
National Security. Kratos' core capabilities are sophisticated
engineering, manufacturing and system integration offerings for
National Security platforms and programs. Kratos' areas of
expertise include Command, Control, Communications, Computing,
Combat and Intelligence, Surveillance and Reconnaissance (C5ISR)
systems, satellite communications, electronic warfare, unmanned
systems, hypersonic systems, directed and high power energy
systems, electromagnetic railgun, missile defense, cyber warfare,
cybersecurity, information assurance, and critical infrastructure
security. Kratos has primarily an engineering and technically
oriented work force of approximately 3,100. 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. News and
information are available at www.KratosDefense.com.
Notice Regarding Forward-Looking
StatementsCertain statements in this press release may
constitute “forward-looking statements” within the meaning of the
Private Securities Litigation Reform Act of 1995. These
forward-looking statements are made on the basis of the current
beliefs, expectations and assumptions of the management of Kratos
and are subject to significant risks and uncertainty. Investors are
cautioned not to place undue reliance on any such forward-looking
statements. All such forward-looking statements speak only as of
the date they are made, and Kratos undertakes no obligation to
update or revise these statements, whether as a result of new
information, future events or otherwise. For a further discussion
of risks and uncertainties that could cause actual results to
differ from those expressed in these forward-looking statements, as
well as risks relating to the business of Kratos in general, see
the risk disclosures in the Annual Report on Form 10-K of Kratos
for the year ended December 28, 2014, and in subsequent
reports on Forms 10-Q and 8-K and other filings made with the SEC
by Kratos.
Press Contact:
Yolanda White
858-812-7302 Direct
Investor Information:
877-934-4687
investor@kratosdefense.com
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