Axon Enterprise Goes to Market With New Stock Flotation

Axon Enterprise (NASDAQ: AAXN) is in capital-raising mode. The law enforcement equipment supplier announced that it has launched a public offering of 3 million shares of its common stock. In its announcement, the company did not specify the timing of the issue.

It did say that the flotation's underwriters are being granted a 30-day option to purchase up to 450,000 additional shares. The underwriting syndicate is being led by JPMorgan Chase and also includes Baird and Raymond James.

Axon will use its share of the issue's proceeds for "working capital and other general corporate purposes." It did not provide more detail.

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Source Fool.com