---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-413173"
form_type: "8-K"
ticker: "FLEX"
cik: "0000866374"
company_name: "FLEX LTD."
filed_at: "2026-10-05T12:07:19+00:00"
generated_at: "2026-10-12T14:45:22.743670+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Flex sells $2B Axiom convertible preferred to General Catalyst, Koch at $37.5B enterprise value

## Summary
- General Catalyst (GC Venture XIII), Koch Equity Development and co-investors to buy 200,000 Series A Convertible Preferred shares of Axiom at $10,000/share, $2.0B total.
- Investment implies an initial enterprise value for Axiom of $37.5B; preferred pays 10.0% cash dividend pre-separation, stepping to 6.0% cash or 7.0% PIK after.
- If the Spin-Off is not completed by Dec 31, 2027, Axiom must redeem shares at 115% of purchase price in cash or 125% in Flex shares; unpaid amounts accrue 12% interest.
- Net proceeds fund part of Flex's pending EPC Power acquisition (announced Sept 3, 2026, expected to close Q4 2026); Flex secured committed term loan for the balance.
- Spin-Off of the Cloud and Power Infrastructure segment into Axiom expected Q1 calendar 2027; General Catalyst gets the right to nominate one Axiom director after separation.

## SEC filing metadata
- accession: 0001193125-26-413173
- form_type: 8-K
- ticker: FLEX
- cik: 0000866374
- company_name: FLEX LTD.
- filed_at: 2026-10-05T12:07:19+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/866374/000119312526413173/0001193125-26-413173-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/866374/000119312526413173/d123485d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-413173
- JSON: https://secwatch.observer/filing/0001193125-26-413173.json
- Plain text: https://secwatch.observer/filing/0001193125-26-413173.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.