Axon proposes $500M convertible notes due 2027; updates risk factor on Illinois grand jury investigation

AXON ENTERPRISE, INC.

$500M convertible senior notes due 2027 (senior unsecured); underwriters can purchase additional $75M.
Net proceeds for general corporate purposes, including growth and potential acquisitions; also to pay cost of note hedge transactions.
Enters convertible note hedge and warrant transactions to reduce potential dilution upon conversion.
Plans new unsecured revolving credit facility of up to $200M (can increase to $300M).
Updates risk factor: U.S. Attorney's Office Northern District of Illinois grand jury investigation; company found no indication of wrongdoing.

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