Axon Enterprise (NASDAQ: AXON) priced its offering of $1.0 billion in convertible senior notes. The notes bear 0% interest. The debt is scheduled to mature on September 15, 2031. Underwriters hold an option to purchase an additional $150 million in notes. The sale is expected to close on September 18, 2026.
Net proceeds are estimated at approximately $986 million. Total proceeds may reach $1.13 billion if the over-allotment is fully exercised. The notes are senior, unsecured obligations. The initial conversion price is set at approximately $652.06 per share.
Axon will use a portion of the funds for capped call transactions to reduce potential stock dilution. Remaining proceeds will support general corporate purposes. These funds may be used for acquisitions and strategic growth investments.