Axon Enterprise, Inc. announced its intention to offer $1.0 billion in aggregate principal amount of 0% convertible senior notes due 2031, subject to market conditions. The offering includes an option for underwriters to purchase up to an additional $150 million in notes to cover over-allotments.
Key Details
- Offering: $1.0 billion of 0% convertible senior notes with a maturity date of September 15, 2031.
- Use of Proceeds: A portion of the proceeds will fund capped call transactions to reduce potential stock dilution upon conversion, with the remainder intended for general corporate purposes, including potential acquisitions.
- Credit Facility Amendment: Concurrent with the offering, Axon plans to amend its credit agreement to increase its revolving credit facility from $300 million to $500 million and extend the maturity date.