NASDAQ:AAXN

Axon Enterprise, Inc. has entered into separate agreements with certain holders of its 0.50% convertible senior notes due 2027. Under these agreements, Axon will exchange approximately $407.5 million in principal amount of the notes for cash and shares of its common stock, with the final share count determined over an averaging period starting on March 7, 2025. Based on the March 6 closing price of $499.31 per share, Axon expects to issue about 1 million shares.

Following the completion of the exchanges, expected around March 13, 2025, Axon will have approximately $282.5 million in remaining notes outstanding. The company anticipates that counterparties hedging their exposure to the notes may engage in transactions that could influence the stock price.

The issued shares will be exempt from registration under U.S. securities laws, as they will be offered to qualified institutional buyers and accredited investors. Axon has also issued a press release detailing the transaction.
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Author
Global Finance News 03-07-25
Axon Enterprise, Inc. announced plans to offer $1.5 billion in senior notes, consisting of notes due in 2030 and 2033. The private offering, exempt from SEC registration, is available to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S. The proceeds will support corporate initiatives, though specific use details were not disclosed. Axon also plans to amend its credit agreement with JPMorgan Chase to increase its revolving credit facility by $100 million to $300 million, with an option to further increase it by $100 million. The amendment will also extend the maturity date and adjust terms to accommodate the new debt issuance.
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Author
The Investor 03-05-25