AeroVironment announces $1.35B public offerings; shares down

1 week ago 1
  • 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

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