Refile: BUZZ-Taser maker Axon drops after unveiling $1 bln convertible debt deal

Axon Enterprise

15/09/2026 12:33

Corrects S&P 500 Industrials YTD pct advance in 7th bullet
** Public safety tech firm Axon Enterprise's AXON.O shares down 3.5% at $473 premarket as it looks to raise capital
** Maker of Tasers, body cameras and drones announces public offering of $1 bln 0% convertible bonds to mature Sept 15, 2031
** Co intends to use net offering proceeds for general purposes, including to support growth and for potential investments and acquisitions
** It also plans to use some proceeds for capped calls, derivative transactions employed to help mitigate potential dilution
** Goldman Sachs, Morgan Stanley, JP Morgan, RBC and Citigroup joint lead bookrunners for offering
** Scottsdale, Arizona-based AXON has roughly $40 bln market cap
** At Mon close, stock down ~14% YTD, lagging ~9% advance in S&P 500 Industrials .SPLRCI
** 20 of 22 analysts rate the stock "strong buy" or "buy", 2 "hold"; median PT $700, per LSEG

(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))