Axon Enterprise Shares Drop After Plan to Offer $1 Billion of 0% Senior Notes
By Chris Wack
Axon Enterprise shares were lower after the company said it intends to offer $1 billion of 0% convertible senior notes due 2031 in a public offering.
The stock was down 10%, at $438.87, in morning trade, and is down 42% in the past 12 months.
Axon said it expects to grant the underwriters of the notes an option to buy for settlement within an 11-day period beginning on, and including, the first date on which the notes are issued, up to an additional $150 million of notes, solely to cover over-allotments, if any.
The company said it intends to use a portion of the proceeds of the offering for general corporate purposes, which may include, among other things, providing capital to support Axon's growth and to acquire or invest in product lines, products, services or technologies, including through acquisitions of, or investments in, other businesses.
The notes will mature Sept. 15, 2031, unless earlier converted, redeemed or repurchased. The notes will be senior, unsecured obligations of Axon and will not bear regular interest, and the principal amount of the notes will not accrete.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
September 15, 2026 10:45 ET (14:45 GMT)
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