(Updates to add share movement in first paragraph and headline)

Axon Enterprise (AXON) shares rose 6.7% in Wednesday trading after it priced an offering of $1 billion of convertible senior notes due 2031.

Underwriters have been granted an 11-day option to purchase up to an additional $150 million of the notes to cover overallotments.

The TASER maker said it expected offering to generate $986 million in net proceeds, which could reach $1.13 billion if underwriters fully exercise their overallotment option.

The company said it plans to use $99.9 million of the net proceeds for capped call transactions and the remainder for general corporate purposes, including acquisitions and investments in products technologies.

Price: 466.96, Change: +24.88, Percent Change: +5.63