Axon Enterprise (NASDAQ:AXON) shares fell 5% on Tuesday after the public safety technology company announced plans to offer $1 billion of 0% convertible senior notes due 2031.
The notes will be offered through a public offering registered under the Securities Act of 1933. Axon also expects to grant the underwriters an option to purchase up to an additional $150 million of notes to cover over-allotments.
The securities will mature on September 15, 2031, unless they are converted, redeemed or repurchased earlier. They will be senior unsecured obligations and will not carry regular interest.
Upon conversion, Axon may settle the notes in cash, shares of its common stock or a combination of the two, at the company's election.
Axon said it plans to use part of the net proceeds to fund capped call transactions ******* ociated with the offering.
#senior #enterprise
The notes will be offered through a public offering registered under the Securities Act of 1933. Axon also expects to grant the underwriters an option to purchase up to an additional $150 million of notes to cover over-allotments.
The securities will mature on September 15, 2031, unless they are converted, redeemed or repurchased earlier. They will be senior unsecured obligations and will not carry regular interest.
Upon conversion, Axon may settle the notes in cash, shares of its common stock or a combination of the two, at the company's election.
Axon said it plans to use part of the net proceeds to fund capped call transactions ******* ociated with the offering.
#senior #enterprise
2 months ago
