WASHINGTON (dpa-AFX) - Axon Enterprise, Inc. (AXON), a manufacturer of conducted energy devices, Friday announced privately negotiated exchange agreements with certain holders of its 0.50% convertible Senior Notes, due 2027.
Under these agreements, Axon Enterprise will exchange about $407.5 million in Notes for a combination of cash and common stock. The final exchange amounts will be determined over an averaging period starting on March 7.
If Axon Enterprise's stock price remains at $499.31 per share, the company expects to issue about 1 million shares as part of the exchange. The cash portion will cover the principal and any unpaid interest on the exchanged Notes.
Once the exchange is completed by March 13, as expected, Axon will have about $282.5 million in remaining outstanding Notes.
In the pre-market trading, Axon is 0.60% higher at $502.29 on the Nasdaq.
Copyright(c) 2025 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2025 AFX News
