SCOTTSDALE, Ariz., May 21, 2018 /PRNewswire/ -- Axon Enterprise,
Inc. (NASDAQ: AAXN), the global leader in connected law enforcement
technologies, today announces the closing of an underwritten public
offering of an aggregate of 4,945,000 shares of common stock at
$53.00 per share, which consists of
an aggregate of 4,645,000 shares sold by the company upon full
exercise of the underwriters' option to purchase additional shares
and 300,000 shares sold by Axon's Chief Executive Officer and
Founder, Patrick W. Smith. The gross
proceeds to the Company from the offering, before deducting
underwriting discounts and estimated offering expenses, are
expected to be $246.2 million.
Axon intends to use the net proceeds from this offering for working
capital and other general corporate purposes. Axon will not
receive any proceeds from the sale of the shares of common stock by
Mr. Smith.
J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC
acted as joint book-running managers for the offering.
The offering was made pursuant to a shelf registration statement
that was previously filed with the Securities and Exchange
Commission (SEC) and only by means of a prospectus and prospectus
supplement, copies of which may be obtained by contacting J.P.
Morgan Securities LLC at c/o Broadridge Financial Solutions,
Attention: Prospectus Department, 1155 Long Island Avenue,
Edgewood, New York 11717 or by
telephone at (866) 803-9204; and Morgan Stanley & Co. LLC at
Attention: Prospectus Department, 180 Varick Street, 2nd Floor,
New York, New York 10014.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities, in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
the registration or qualification under the securities laws of such
state or jurisdiction.
About Axon
Axon provides a network of devices, apps, and people that helps
law enforcement become smarter and safer. Our mission is to protect
life. Our technologies give law enforcement the confidence, focus,
and time they need to keep their communities safe. Our products
impact every aspect of an officer's day-to-day experience.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. These forward-looking statements include, but are not
limited to, those relating to Axon's expectations with respect to
the use of proceeds. Any forward-looking statements in
this press release are based on management's current
expectations and beliefs of future events, and are subject to a
number of risks and uncertainties that could cause actual results
to differ materially and adversely from those sets forth in or
implied by such forward-looking statements. For a discussion of
these and other risks and uncertainties, and other important
factors, any of which could cause Axon's actual results to differ
from those contained in the forward-looking statements, see the
section titled "Risk Factors" in Axon's most recent Annual Report
on Form 10-K and Quarterly Report on Form 10-Q filed with the SEC,
as well as discussions of potential risks, uncertainties, and other
important factors in Axon's other filings with the SEC, including
those contained or incorporated by reference in the final
prospectus relating to the public offering. All information in this
press release is as of the date of the release, and Axon undertakes
no duty to update this information unless required by law.
Investor Contact
Andrea James
IR@axon.com
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SOURCE Axon