Drone Maker Kratos Defense Seeks $1 Billion in Share Sale

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Kratos Defense & Security Solutions drone models at the Farnborough Airshow, in Farnborough, UK.Kratos Defense & Security Solutions Inc. is seeking to raise $1 billion in a share sale, as government spending on defense ramps up.

The San Diego-based firm is offering shares for $83 to $85 each in a share sale marketed overnight, according to people familiar with the matter. The price range represents a discount of as much as 10% to Thursday’s closing price of $92.14.