Axon enters new ATM equity distribution agreement for up to 1.95M shares with J.P. Morgan

AXON ENTERPRISE, INC.

New distribution agreement allows sale of up to 1,954,450 shares of common stock via J.P. Morgan Securities as agent.
Agent compensation capped at 2% of gross sales price; sales at market prices on Nasdaq.
Proceeds intended for general corporate purposes, including tax obligations on stock compensation and growth initiatives.
Agreement effective May 13, 2024; replaces prior program that expired April 20, 2024.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.99

AXON ENTERPRISE, INC. entered into Distribution Agreement with J.P. Morgan Securities LLC valued at up to 1,954,450 shares of common stock (effective 2024-05-13).

Action: entry
Agreement: atm program
Counterparty: J.P. Morgan Securities LLC
Value: up to 1,954,450 shares of common stock
Effective: 2024-05-13

Exact text from the filing

On May 13, 2024, the Company entered into a new distribution agreement (the “Distribution Agreement”) with J.P. Morgan Securities LLC (the “Agent”) specifically for those 1,954,450 unsold shares that the Company has carried over and registered under Post-Effective Amendment No. 1 filed April 19, 2024 to the Registration Statement on Form S-3 (File No. 333-277559) originally filed on March 1, 2024.

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Source: SEC EDGAR

accession 0001069183-24-000042

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