Deal Details

AeroVironment, Inc. (“AV” or the “Company”) (NASDAQ: AVAV) recently completed the pricing of its upsized underwritten public offering of 3,528,226 shares of its common stock, including granting a 30-day option for the underwriters to purchase 529,234 additional shares, at a price of $248.00 per share, generating gross proceeds to AV of approximately $875.0 million, and its upsized underwritten public offering of $747.5 million aggregate principal amount of its 0% convertible senior notes due 2030 (the “Convertible Notes”), including $97.5 million aggregate principal amount of Convertible Notes sold pursuant to the full exercise of the underwriters’ option to purchase additional Convertible Notes (“the Offerings”). The aggregate gross proceeds to AV from the Offerings are expected to be approximately $1.6 billion. AV expects to use the net proceeds to repay indebtedness under the Company’s term loan and outstanding borrowings under its revolving credit facility and for general corporate purposes, including to increase manufacturing capacity.

Baird served as a bookrunner on these Offerings.