Axon invests another $1.2bn in Skydio, lifting its stake to about 37%
Axon also becomes Skydio's exclusive distributor for public safety in the US and Canada, with the payment expected to be about 60% in cash.
Chart: AXON, one-minute prices, three sessions
Axon Enterprise is raising its fully diluted stake in Skydio from about 15% to about 37% at a $5.2bn pre-money valuation, the value placed on Skydio before the new money goes in. The initial closing took place on Thursday.
The consideration is expected to be about 60% cash, or about $720m, with the remainder expected in Axon common stock.
The distribution rights may matter as much as the equity. Axon becomes Skydio's exclusive distributor for public safety in the US and Canada, which shuts competitors out of that channel.
The remaining transactions are expected to close in the fourth quarter of 2026 and the first quarter of 2027.
© Raydn · raydn.us
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