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This study aims to learn the dynamic radar cross-section (RCS) of a deflection air brake.

The aircraft model with delta wing, V-shaped tail and blended wing body is designed, and high-precision unstructured grid technology is used to deal with the surface of air brake and fuselage. The calculation method based on multiple tracking and dynamic scattering is presented to calculate RCS.

The fuselage has a low scattering level, and the opening air brake will bring obvious dynamic RCS effects to itself and the whole machine. The average indicator of air brake RCS can be lower than –0.6 dBm² under the tail azimuth, while that of forward and lateral direction is lower. The mean RCS of fuselage is obviously higher than that of air brake, while the deflected air brake and its cabin can still provide strong scattering sources at some azimuths. When the air brake is opening, the change amplitude of the aircraft forward RCS can exceed 19.81 dBm².

This research has practical significance for the dynamic electromagnetic scattering analysis and stealth design of the air brake.

The calculation method for aircraft RCS considering air brake dynamic deflection has been established.

This case was researched using publicly available sources, including Mercury Systems financial filings and press releases, news stories about the seasoned equity offering, financial information from Bloomberg and industry information from IBISWorld Industry Reports and articles related to seasoned/secondary equity offerings, intangible asset valuation and the use of revolving lines of credit. Quotes are taken from Mercury financial reports and press releases and express the (optimistic) opinions of company executives.

Mercury Systems, a technology company in the aerospace and defense industry, announced a six million share seasoned stock offering in June 2019. This resulted in a 6% stock price decrease. A stock price decrease is a typical event when a firm announces the issuance of new common shares, but with Mercury Systems, there were concerns about how much money the firm needed to fund its strategy of growth through acquisitions. If internally generated funds were not sufficient, should the firm issue debt or have another seasoned equity issue? Students will look at the objectives and success of the most recent seasoned equity issue, determine future funds needs and how the firm should finance these needs.

This case is appropriate for undergraduate and graduate students in corporate finance electives. Typically, topics such as seasoned equity offerings are not covered in introductory courses, so this is recommended for finance electives. Even in advanced finance courses, sometimes there is insufficient time to cover seasoned equity offerings.