AeroVironment announces $1.35B public offerings; shares down (NASDAQ:AVAV)

Press Room

9 months ago

AeroVironment (NASDAQ:AVAV) proposes $750M common stock and $600M convertible notes offerings.
Includes 30-day over-allotment options of up to $112.5M (stock) and $90M (notes) for underwriters.
Proceeds will be used to repay term loan and revolving credit facility borrowings, with remaining funds for general corporate purposes, including manufacturing expansion.
AVAV shares down 8.5% post-market on Monday.
Source: Press release