secwatch.observer — SEC 8-K summary
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Issuer:     Axos Financial, Inc. (AX)
CIK:        0001299709
Form:       8-K
Filed at:   2025-09-17T23:59:59+00:00
Accession:  0001299709-25-000157
Event type: debt
Sentiment:  positive
Materiality: 0.60
Item codes: 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Axos Financial prices $200M sub notes at 7.00% to refinance higher-cost 2030 notes
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- $200M 7.00% Fixed-to-Floating Rate Subordinated Notes due 2035 priced on Sept 16, closing Sept 19.
- Net proceeds ~$197.2M after 1.25% underwriting discount; use: redeem $160.5M outstanding 2030 notes (4.875% fixed, set to re-price to ~9%) and support growth.
- 2030 notes conditional redemption notice issued Aug 29; redemption on Oct 1, 2025 subject to financing condition.
- Notes rated BBB by Kroll Bond Rating Agency; interest fixed 7.00% to Oct 2030, then Three-Month Term SOFR + 379bps.
- Joint book-runners: Keefe Bruyette & Woods and Raymond James; co-managers: B. Riley and Janney.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1299709/000129970925000157/0001299709-25-000157-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1299709/000129970925000157/ax-20250916.htm
  HTML page:      https://secwatch.observer/filing/0001299709-25-000157

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer