Movement Alert|Kratos Defense & Security Solutions Rises 6.98% in Regular Trading, Partner Elroy Air Nearing $800 Million SPAC Deal

Market Focus06-30

On June 30, Kratos Defense & Security Solutions rose 6.98% in regular trading, trading at $49.91/share, with turnover of approximately $29.78 million.

On the news front, U.S. drone startup Elroy Air is reportedly nearing an $800 million SPAC transaction. Elroy Air's hybrid-powered cargo drone, the Chaparral C1, has completed its maiden flight, with a backlog of 500 aircraft valued at over $1 billion. Notably, Kratos was previously selected as Elroy Air's exclusive manufacturing partner in the United States, with the two companies having signed a five-year strategic agreement. Kratos stands to directly benefit from Elroy Air's order volume ramp-up and capital infusion resulting from the SPAC deal.

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