AeroVironment, Inc. Announces Proposed Offerings of Common Stock and Convertible Senior Notes Due 2030

About this update from Aerovironment, Inc.

[{"type":"text","content":" ARLINGTON, Va.--(BUSINESS WIRE)--\nAeroVironment, Inc. (NASDAQ: AVAV) (the “Company”) today announced proposed underwritten public offerings of $750,000,000 of shares of its common stock (the “Common Stock” and, such offering, the “Common Stock Offering”) and $600,000,000 aggregate principal amount of its convertible senior notes due 2030 (the “Convertible Notes” and such offering, the “Convertible Notes Offering”).\n\n\nThe Company intends to grant the underwriters of the offerings a 30-day option to purchase up to an additional $112,500,000 of Common Stock in the Common Stock Offering and a 30-day option to purchase up to an additional $90,000,000 aggregate principal amount of Convertible Notes solely to cover over-allotments, if any, in the Convertible Notes Offering. The Company expects to use the net proceeds from the Common Stock Offering and the Convertible Notes Offering to repay indebtedness under its term loan and outstanding borrowings under its revolving credit facility, and the remainder, if any, for general corporate purposes, including to increase manufacturing capacity. The closing of neither the Common Stock Offering nor the Convertible Notes Offering is conditioned upon the closing of the other offering. The offerings are subject to market and other conditions, and there can be no assurance as to whether or when the offerings may be completed, or as to the actual size or terms of the offerings.\n\n\nJ.P. Morgan and BofA Securities are acting as lead book-running managers and as representatives of the underwriters for the Common Stock Offering and the Convertible Notes Offering. Raymond James is acting as a joint book-running manager and as a representative of the underwriters for the Convertible Notes Offering. The Company has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the “SEC”) as well as preliminary prospectus supplements with respect to each of the offerings to which this communication relates. Before you invest, you should read the applicable preliminary prospectus supplement and the prospectus in that registration statement and other documents the Company has filed with the SEC for more complete information about the Company and these offerings. You may access these documents by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, th...

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