Northrop Grumman Corporation today announced the public offerings of 8 million shares of common stock at $88.50 per share and 6 million equity security units at $100 per unit with a 7.25 percent coupon and a 22 percent conversion premium. purchase up to an additional 900,000 equity security units to cover over-allotments, if any. Each equity security unit will initially consist of a contract to purchase shares of Northrop Grumman common stock on Nov. 16, 2004 and a $100 senior note due 2006. The offerings were priced yesterday and are expected to close on Nov. 21, 2001. Net proceeds from the sale of both common and equity security units are expected to be approximately $1.3 billion, assuming the over-allotment options are not exercised. general corporate purposes.