Latham & Watkins Advises on Karman Space & Defense’s Upsized US$854 Million Secondary Offering of Common Stock

Karman Space & Defense (NYSE: KRMN), a leader in the rapid design, development, and production of critical, next-generation system solutions that align with the US Department of War’s core mission priorities and the nation’s accelerating demand for access to space, has announced the close of the underwritten public offering of 14,000,000 shares of its common stock by certain selling stockholders at a price to the public of US$61.00 per share, for total aggregate gross proceeds to the selling stockholders of approximately US$854,000,000, before deducting underwriting discounts and commissions and offering expenses. The size of the offering reflects an increase from the 13,500,000 shares of common stock originally proposed to be sold. In addition, the selling stockholders granted the underwriters a 30-day option to purchase up to an additional 2,100,000 shares of common stock.

Latham & Watkins LLP represented the underwriters in the offering with a Capital Markets team led by New York partners Marc Jaffe and Erika Weinberg, with associates Matt DeSilva and Madison Venezia and assistance from Miranda Bannister. Advice was also provided on tax matters by New York partner Bora Bozkurt, with associate Farrah Yan.