Defense firm Kratos slips on planned $500 mln stock offering

Shares of Kratos Defense & Security Solutions KTOS.O down 7.4% post-market to $39.21 as it seeks equity raise

San Diego-based firm announces $500 mln stock offering

Co says plans to use net proceeds to fund investments and capex for mission critical national security priorities related to existing programs, recent program awards and pipeline opportunities, as well as finance targeted acquisitions among other purposes, including pay-down of debt

Baird, RBC, Truist and Raymond James are jt bookrunners

With ~153.3 mln shares outstanding, co has $6.5 bln market cap

KTOS shares on Weds finished up 3.8% at $42.33, up 60.5% YTD