04:29 AM EDT, 07/02/2025 (MT Newswires) -- AeroVironment ( AVAV ) said late Tuesday it priced public offerings of about 3.5 million common shares at $248 each and $650 million of 0% convertible senior notes due 2030, for about $1.47 billion in total expected net proceeds.

The offerings were upsized from the previously planned $750 million of shares and $600 million of notes.

Underwriters have 30-day overallotment options to buy up to 529,234 additional shares and up to an additional $97.5 million of notes.

AeroVironment ( AVAV ) said it plans to use about $965.3 million of the net proceeds to repay debt under its term loan, among other things.

The offerings are expected to close Thursday.