Company: AX
Filing Date: 2025-09-19
Form Type: 8-K
Source: 0001299709-25-000162
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Company: Axos Financial, Inc.
Filing Date: 2025-09-19
Form: 8-K
Item: Item 1.01
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Item 1.01 Entry Into A Material Definitive Agreement.

On September 19, 2025, Axos Financial, Inc. (the “ Company”) completed its previously announced sale of $200,000,000 aggregate principal amount of the Company’s 7.00% Fixed-to-Floating Rate Subordinated Notes due 2035 (the “ Notes”) to Keefe, Bruyette & Woods, Inc., as representative of the underwriters named in an underwriting agreement dated September 16, 2025, by and between the Company and the underwriters named therein.

The Notes were issued pursuant to the Indenture, dated as of February 24, 2022 (the “ Base Indenture”), between the Company and U. S. Bank Trust Company, National Association, as trustee (the “ Trustee”), as supplemented by the Second Supplemental Indenture, dated as of September 19, 2025 (the “ Supplemental Indenture” and, together with the Base Indenture, the “ Indenture”), between the Company and the Trustee.

From and including September 19, 2025 to, but excluding October 1, 2030, or the date of earlier redemption, the Notes will accrue interest at a fixed rate per annum equal to 7.00%, payable semi-annually in arrears on April 1 and October 1 of each year, commencing on April 1, 2026. From and including October 1, 2030, to, but excluding, October 1, 2035 or the date of earlier redemption, (the “floating rate period”), the Notes will accrue interest at a floating rate per annum equal to the benchmark rate, which is the then-current Three-Month Term SOFR (as defined in the Indenture), plus a spread of 379 basis points for each quarterly interest period during the floating rate period, payable quarterly in arrears on January 1, April 1, July 1 and October 1 of each year, commencing on January 1, 2031; provided, however, that if the benchmark rate is less than zero, the benchmark rate will be deemed to be zero.

The Notes will mature on October 1, 2035. The Notes will be issued in minimum denominations of $1,000 and integral multiples of $1,000 in excess thereof.

The Notes are unsecured, subordinated and rank junior in