Flex sells $2 billion convertible preferred stake in Axiom to General Catalyst-led group
FLEX•Flex agreed to sell $2 billion of Axiom Series A Convertible Preferred Stock to a General Catalyst-led group, valuing Axiom at an initial enterprise value of $37.5 billion.
1. Funding and planned separation
The proceeds are earmarked to help fund Axiom’s pending acquisition of EPC Power, repay any interim financing tied to the deal, support dividends and serve general purposes. Flex secured committed term-loan financing for the remaining acquisition funding needs and targets separating Axiom into an independent, publicly traded company in the first quarter of 2027.
