Axon Announces Pricing of $1.0 Billion Offering of 0% Convertible Senior Notes Due 2031
Axon priced a $1.0 billion offering of 0% convertible senior notes due 2031, with approximately $986.0 million in net proceeds expected at the September 18 settlement, plus a $150.0 million underwriters' over-allotment option. The notes convert at an initial conversion price of approximately $652.06 per share — roughly 48% above the September 15 close of $442.08 — and Axon is paying $99.9 million for capped call transactions that offset dilution up to a cap price of $1,049.94, a 137.5% premium. Remaining proceeds are earmarked for general corporate purposes, including growth capital and acquisitions of or investments in other businesses.
Key figures
- Deal Value Usd
- 1000000000
- Coupon
- 0%
- Maturity date
- September 15, 2031
- Conversion rate
- 1.5336 shares per $1,000 principal amount
- Settlement date
- September 18, 2026
- Capped call cost
- $99.9 million
- Conversion price
- $652.06
- Net proceeds usd
- 986000000
- Over allotment usd
- 150000000
- Capped call premium
- 137.5%
- Reference stock price
- 442.08
AI analysis
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