Axon prices $1.15B 0% convertible notes due 2031, buys capped calls at 137.5% premium

AXON ENTERPRISE, INC.

Issued $1.15B 0% convertible notes due 2031; conversion price $652.06/share, rate 1.5336 shares per $1k.
Net proceeds ~$1.134B after full over-allotment; $114.9M used for capped call transactions.
Capped call cap price $1,049.94/share (137.5% premium over $442.08 close), reducing conversion dilution.
Notes mature Sept 15, 2031; no regular interest; senior unsecured; no financial covenants.
Over-allotment option exercised in full; offering closed Sept 18, 2026.

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