Kratos Defense & Security Solutions, Inc. acquired an additional stake 9.95% stake in KTT CORE, Inc. from Pegasus Residual LLC for $6.4 million.
June 26, 2022
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Kratos Defense & Security Solutions, Inc. (NasdaqGS:KTOS) acquired an additional stake 9.95% stake in KTT CORE, Inc. from Pegasus Residual LLC for $6.4 million on June 13, 2022. The aggregate estimated purchase price of approximately $6.4 million, to be paid in shares of Kratos common stock. Pursuant to the Equity Purchase Agreement, the Company paid $2.7 million paid in 190,258 shares of its common stock, based upon the Kratos trading price on the date of distribution, representing half of the aggregate estimated purchase price to be paid by Kratos Defense & Security Solutions for the purchased shares. Following the closing of the transactions contemplated by the Equity Purchase agreement, Kratos Defense owned 90.05% of KTT Core. The unpaid portion of the aggregate estimated purchase price for the Purchased Shares is expected to be paid in shares of Kratos common stock in March 2023, subject to certain adjustments. Jeremy Silverman of Alston & Bird LLP acted as legal advisor to Pegasus Residual LLC.
Kratos Defense & Security Solutions, Inc. completed the acquisition of an additional stake 9.95% stake in KTT CORE, Inc. from Pegasus Residual LLC on June 13, 2022.
Kratos Defense & Security Solutions, Inc. is a technology, products, system and software company addressing the defense, national security, and commercial markets. It operates through two segments: The Kratos Government Solutions (KGS) and Unmanned Systems (US). The KGS segment includes its microwave electronic products, space, satellite and cyber, training solutions, Command, Control, Communication, Computing, Combat, Intelligence Surveillance and Reconnaissance (C5ISR)/modular systems, turbine technologies, and defense and rocket support services operating segments. The US segment consists of its unmanned aerial, unmanned ground, unmanned seaborne and related command, control and communications system businesses. The KGS and US segments provide products, solutions and services for mission critical National Security programs. It serves customers, such as U.S. Air Force, the U.S. Navy, the U.S. Army, the U.S. Marine Corps, the U.S. Space Force and the U.S. Space Command, and others.
KRATOS DEFENSE & SECURITY SOLUTIONS, INC. 
