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Flex sells $2.0B Axiom preferred stake, plans Axiom spin-off in early 2027
Flex agreed to sell $2.0 billion of Series A Convertible Preferred Stock of Axiom, its Cloud and Power Infrastructure segment, to funds affiliated with General Catalyst, Koch Equity Development and co-investors. Flex intends to separate Axiom into an independent, publicly traded company in the first quarter of calendar 2027.
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Exhibit 99.1 Flex Announces $2.0 Billion Convertible Preferred Investment into Axiom Led by General Catalyst with Koch Equity Development Transaction Highlights: • Strategic investment from General Catalyst, Koch Equity Development, and co-investors to support long-term growth at Axiom, Flex’s Cloud and Power Infrastructure segment • $2.0 billion convertible preferred equity investment is at an initial enterprise value for Axiom of $37.5 billion • Flex intends to separate Axiom into an independent, publicly traded company in the first quarter of calendar 2027 AUSTIN, Texas…