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Axon Enterprise Prices Private Offering Of $600 Mln Of 0.50% Convertible Senior Notes Due 2027

Axon Enterprise Inc. (AXON) announced the pricing of its private offering of $600 million aggregate principal amount of 0.50% Convertible Senior Notes due 2027.

Axon also granted the initial purchasers of the Notes an option to purchase up to an additional $90 million aggregate principal amount of the Notes, for settlement within a 13-day period beginning on, and including, the first date on which the Notes are issued.

The aggregate principal amount of the offering was increased from the previously announced offering size of $500 million or $575 million if the initial purchasers exercise their option to purchase additional notes in full.

The sale of the Notes is expected to close on December 9, 2022.

Axon estimates that the net proceeds from the offering will be approximately $585.8 million (or approximately $673.8 million if the initial purchasers fully exercise their option to purchase additional notes), after deducting the initial purchasers' discounts and commissions and estimated offering expenses.

Axon plans to use $61.5 million of the net proceeds to pay the cost of certain convertible note hedge transactions described below. Axon intends to use the remaining net proceeds of the offering for general corporate purposes, which may include, among other things, providing capital to support its growth and to acquire or invest in product lines, products, services or technologies.

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