Company: AX
Filing Date: 2025-09-17
Form Type: 424B5
Source: 0001299709-25-000159
Chunk: 23

Company: Axos Financial, Inc.
Filing Date: 2025-09-17
Form: 424B5
Chunk 23
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 liquidity for the Notes following the offering or provide a market at prices for the Notes acceptable to investors.

If a trading market for the Notes develops, changes in the debt markets, among others, could adversely affect the market price of the Notes and your ability to liquidate your investment in the Notes.

Many factors could affect the trading market for, and the trading value of, the Notes. These factors include: the method of calculating the principal, premium, if any, interest or other amounts payable, if any, on the Notes; the time remaining to the maturity of the Notes; the ranking of the Notes; the redemption features of the Notes; the outstanding amount of subordinated notes with terms identical to the Notes offered hereby; the prevailing interest rates being paid by other companies similar to us; changes in U.S. interest rates; whether the ratings on the Notes or us provided by any rating agency have changed; our financial condition, financial performance and future prospects; the level, direction and volatility of market interest rates generally; general economic conditions of the capital markets in the United States; and geopolitical conditions and other financial, political, regulatory, and judicial events that affect the capital markets generally. Economic or market turmoil could occur in the near or long term, which could adversely affect the trading market (if any) for, and the market price of, the Notes.

The Notes are not insured or guaranteed by the FDIC, any other governmental agency or instrumentality, or any of our subsidiaries.

The Notes are not savings accounts, deposits or other obligations of the Bank and are not insured by the FDIC, any other governmental agency or instrumentality or any public or private insurer. The Notes are obligations of Axos Financial, Inc. only and are neither obligations of, nor guaranteed by, any of our subsidiaries. The Notes will be structurally subordinated to all existing and future indebtedness and other liabilities of our subsidiaries, which means that creditors of our subsidiaries (including, in the case of the Bank, its depositors) generally will be paid from those subsidiaries’ assets before holders of the Notes would have any claims to those assets. Even if we become a creditor of any of our subsidiaries, our rights as a creditor would be subordinate to any security interest in the assets of that subsidiary and any debt of that subsidiary senior to that held by us, and our rights could otherwise be subordinated to the rights of other creditors and depositors of that subsidiary. Furthermore, none of our subsidiaries is under any obligation to make payments to us, and any payments to us