8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):  September 6, 2006

Alliant Techsystems Inc.

(Exact name of registrant as specified in its charter)

Delaware	1-10582	41-1672694
(State or other jurisdiction	(Commission	(I.R.S. Employer Identification
of incorporation)	File Number)	No.)
5050 Lincoln Drive
Edina, Minnesota		55436-1097
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code:  (952) 351-3000

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01. Other Events

On September 6, 2006, Alliant Techsystems Inc. issued a press release announcing the proposed offering of $300 million of convertible senior subordinated notes.  A copy of the press release is furnished as Exhibit 99.1 to this report and is incorporated herein by reference.

In connection with the offering, ATK is reporting its ratio of earnings to fixed charges for the quarters ended July 2, 2006 and July 3, 2005.  These ratios are furnished as Exhibit 99.2 to this report and are incorporated herein by reference.

ATK has finalized the amount of the accrued benefit payable under ATK’s Supplemental Executive Retirement Plan to Nicholas G. Vlahakis, former Executive Vice President and Chief Operating Officer, upon his retirement from ATK.  The lump sum amount of $3,134,854 was paid in two installments on July 1, 2006 and July 7, 2006.

As of August 30, 2006, ATK had increased its borrowings under its revolving credit facility by approximately $68.5 million since July 2, 2006 in connection with the repurchase of its common stock.

Item 9.01. Financial Statements and Exhibits

(d)           Exhibits.

Exhibit No.	Description
99.1	Press Release announcing the proposed offering of $300 million of convertible senior subordinated notes.
99.2	Ratio of Earnings to Fixed Charges for the quarters ended July 2, 2006 and July 3, 2005.

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

ALLIANT TECHSYSTEMS INC.
By:	/s/ John L. Shroyer
Name:	John L. Shroyer
Title:	Senior Vice President and Chief Financial Officer

Date:  September 6, 2006

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EX-99.1

Exhibit 99.1

News Release	Corporate Communications	Phone: 952-351-3087
	MN01-1030	Fax: 952-351-3009
	5050 Lincoln Drive
	Edina, MN 55436

For Immediate Release

Media Contact:	Investor Contact:
Bryce Hallowell	Steve Wold
Phone: 952-351-3087	Phone: 952-351-3056
E-mail: bryce.hallowell@atk.com	E-mail: steve_wold@atk.com

ATK ANNOUNCES PROPOSED CONVERTIBLE SENIOR
SUBORDINATED NOTES OFFERING

Minneapolis, September 6, 2006 – ATK (Alliant Techsystems, NYSE:  ATK) today announced that it intends to offer, subject to market conditions and other factors, up to $300 million aggregate principal amount of convertible senior subordinated notes due 2011 to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), including up to $30 million aggregate principal amount of such notes for which ATK plans to grant to the initial purchasers an over-allotment option.

ATK expects that the notes will be unsecured, senior subordinated obligations of ATK, will pay interest semi-annually, and will be convertible upon satisfaction of certain conditions.  Upon conversion, the holder will receive an amount in cash and, in certain circumstances at the option of ATK, shares of its common stock.  The notes will be guaranteed on a senior subordinated basis by substantially all of the Company’s existing subsidiaries.  Holders of the notes will have the right to require ATK to repurchase all or some of their notes upon the occurrence of certain events.

ATK intends to use the proceeds from the offering (a) to purchase approximately $100 million of shares of ATK common stock and (b) to make a contribution to its defined benefit pension plan and for other general corporate purposes.  In addition, simultaneous with the offering of the notes, ATK intends to enter into convertible note hedge transactions with one or more of the initial purchasers of the notes.  The convertible note hedge transactions are intended to offset

potential dilution to ATK’s common stock upon potential future conversion of the notes.  ATK will pay expenses of the offering and the related convertible note hedge transactions through existing cash on hand and other borrowings.

ATK also expects to enter into separate warrant transactions with one or more of the initial purchasers of the notes.  In connection with the convertible note hedge and warrant transactions, affiliates of the initial purchasers that are a party to those transactions have advised ATK that they will purchase ATK’s common stock in secondary market transactions and may enter into various over-the-counter derivative transactions with respect to ATK’s common stock concurrently with or following pricing of the notes.

The convertible notes and the shares of common stock issuable upon conversion will not be registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act.

This announcement does not constitute an offer to sell or the solicitation of offers to buy any security and shall not constitute an offer, solicitation, or sale of any security in any jurisdiction in which such offer, solicitation, or sale would be unlawful.

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EX-99.2

Exhibit 99.2

RATIO OF EARNINGS TO FIXED CHARGES

The following table shows our historical ratio of earnings to fixed charges for the quarters ended July 2, 2006 and July 3, 2005.  For the purposes of calculating the ratio of earnings to fixed charges, “earnings” represents income from continuing operations before income taxes, plus fixed charges. “Fixed charges” consist of interest expense, including amortization of debt issuance costs and that portion of rental expense considered to be a reasonable approximation of interest.

	Quarters Ended
	July 2, 2006	July 3, 2005
Ratio of earnings to fixed charges	4.28	3.67