Flex entered into an agreement with Axiom and investors including General Catalyst, pursuant to which the investors agreed to purchase 200,000 shares of Axiom's Series A Convertible Preferred Stock at $10,000 per share for an aggregate purchase price of $2,000,000,000 in a private placement, the company said on October 2, 2026.

1. 01

   Flex entered into an agreement with Axiom and investors including General Catalyst, pursuant to which the investors agreed to purchase 200,000 shares of Axiom's Series A Convertible Preferred Stock at $10,000 per share for an aggregate purchase price of $2,000,000,000 in a private placement, the company said on October 2, 2026.

2. 02

   Flex said that if the Spin-Off is not completed by December 31, 2027, Axiom must redeem all shares of the Convertible Preferred Stock held by the investors at a redemption price equal to 115% of the per share purchase price if paid in cash, or 125% of the per share purchase price if paid in Flex Ordinary Shares, in each case minus the aggregate amount of dividends paid in cash on each share, with Flex guaranteeing Axiom's performance.

3. 03

   The Convertible Preferred Stock pays a dividend of 10.0% per annum in cash prior to the separation, the company said. Net proceeds from the investment will be used to fund a portion of the purchase price of the EPC Power acquisition, to repay any equity bridge or other intermediate financing incurred in connection with the acquisition, to pay dividends on the Convertible Preferred Stock, or for general corporate purposes.

4. 04

   Flex said a wholly owned subsidiary entered into a stock purchase agreement on September 3, 2026 to acquire all of the equity interests of EPC Power Corp., with the acquisition expected to close in Q4 2026. The Spin-Off of the Cloud and Power Infrastructure business is planned for Q1 2027.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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