Individuals holding 1.75 percent of Kratos Defense and Security Solutions Inc. stock will sell their 1.83 million shares for a maximum price of $16.24, according to a prospectus filed with securities regulators on March 11.
Kratos will receive no funds from the offering.
The majority of shares will come from the Shirley C. Brostmeyer Revocable Trust and Joseph D. Brostmeyer Revocable Trust. The Brostmeyers are engineers and co-founders of Florida Turbine Technologies. Kratos bought 80.1 percent of Florida Turbine Technologies on Feb. 28, paying $27 million in stock and $33 million in cash.
Kratos said the Brostmeyers will continue to be involved in the business under the San Diego company’s majority control. Kratos also has the option to buy the remainder of Florida Turbine Technologies.