Axon targets USD 1 billion 0% convertible senior notes offering

Axon launched a public offering of USD 1 billion 0% convertible senior notes due 2031.

• Underwriters hold an 11-day option to buy up to USD 150 million more notes, taking the potential total to USD 1.15 billion.
• Proceeds are earmarked for capped call transactions, then general corporate purposes, including growth funding, acquisitions and investments.
• The notes mature Sept. 15, 2031, and Axon can settle conversions in cash, stock or a mix.
• Issuer redemption starts Sept. 20, 2029 if the stock meets a 130% conversion-price trigger; holders can put the notes on March 20, 2031.