SAN DIEGO, Nov. 17, 2016 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. ("Kratos") (Nasdaq:KTOS), a leading national security solutions provider, announced today that it intends to offer and sell, subject to market and other conditions, shares of its common stock in an underwritten public offering pursuant to an effective shelf registration statement. In connection with this offering, Kratos expects to grant the underwriters a 30-day option to purchase additional shares of its common stock in an amount of up to 15% of the shares sold in the offering, on the same terms and conditions. All of the shares in the offering are to be sold by Kratos. This offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. Kratos expects to use the net proceeds from the offering for general corporate purposes, including funding expected growth and strategic investments in the Company's high performance unmanned aerial vehicle business area and other new programs under contract and reducing overall Company indebtedness in order to facilitate Kratos' long-term strategy. Canaccord Genuity and B. Riley & Co. are acting as joint book-running managers for the offering. Noble Financial Capital Markets is acting as co-manager. A shelf registration statement relating to the shares of common stock to be issued in the proposed offering was filed with the Securities and Exchange Commission (SEC) and is effective. Information about the offering is available in the preliminary prospectus supplement filed with the SEC. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, these securities, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale is not permitted.