B. Riley & Co. Completes $19 Million Registered Direct Offering for Kratos Defense & Security Solutions

Sat. September 12, 2009; Posted: 11:16 PM

Sep 10, 2009 (Close-Up Media via COMTEX) -- KTOS | Quote | Chart | News | PowerRating -- B. Riley & Co. announced it has represented Kratos Defense & Security Solutions as its Exclusive Placement Agent in the issuance of 26 million shares of the company's common stock valued at approximately $19 million, according to B. Riley Chairman Bryant Riley.

The shares of the common stock were sold to institutional investors at a purchase price of $0.72 per share in a registered direct offering. The transaction closed September 2. The shares of common stock sold in this transaction will participate in a 1-for-10 reverse split of the Company's common stock which is scheduled to occur on September 10.

B. Riley's banking team included President Wes Cummins, Managing Director Tim McQuay and Managing Director Bob Campbell.

San Diego-based Kratos is a national defense, IT and security solutions provider, which offers mission critical engineering, IT services and war fighter solutions for the U.S. federal government and for state and local agencies.

B. Riley has successfully completed over 350 engagements with more than $16 billion in aggregate transaction value in a variety of industry sectors.

B. Riley & Co. is an independent investment bank which provides corporate finance, research, sales and trading services to corporate and institutional clients. Investment banking services include merger and acquisitions advisory to public and private middle market companies, initial and secondary public offerings and institutional private placements.

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