Business
AMMO, Inc. Announces Plan to Separate Ammunition and Marketplace Businesses into Two Independent Publicly Traded Companies
Create Separate Industry Leading & Laser-Focused Companies Following Separation, Fred Wagenhals Will Serve as the CEO/Chairman of Marketplace Business,
About this update from Outdoor Holding Company
[{"type":"text","content":"Create Separate Industry Leading & Laser-Focused Companies Following Separation, Fred Wagenhals Will Serve as the CEO/Chairman of Marketplace Business, Outdoor Online, Inc., Including the GunBroker.com Brand and Related On-line Business Operations and Chairman of Action Outdoor Sports, Inc. New Team to be Named to Manage Action Outdoor Sports, Inc., the Ammunition and Munition Components Business, Responsible for Curating the Well-Established STREAK, Signature, Blackline, /stelTH/, AMMO Brass and Hunt Ammunition Brands, While Continuing to Service our Government Customers & US Special Forces End-Users Transaction Expected to be Completed in 2023 Calendar Year Separately Announced Q1 FY 2023 Financial Results; Company to Host Conference Call at 5:00 p.m. EDT, August 15, 2022 SCOTTSDALE, Ariz., Aug. 15, 2022 (GLOBE NEWSWIRE) -- AMMO, Inc. (Nasdaq: POWW, POWWP) (“AMMO” or the “Company”), the owner of GunBroker.com, the largest online marketplace serving the firearms and shooting sports industries, and a leading vertically integrated producer of high-performance ammunition and components, today announces that its Board of Directors has unanimously approved a plan to separate its ammunition and marketplace businesses into two independent publicly-traded companies. Outdoor Online, Inc. (“Outdoor Online”) will be comprised of GunBroker.com and its related online businesses. Current AMMO Chairman & CEO, Fred Wagenhals, will assume the Chairman & CEO role in Outdoor Online. The second entity, Action Outdoor Sports, Inc. (“AOS”), will retain the Company’s current ammunition and munition components business, including its well- established STREAK™, Signature™, Blackline™, /stelTH/™, Blueline™, AMMO Brass™, and Hunt Ammunition™ brands. The AOS CEO, executive management team and board of directors will be announced at a later date and in advance of consummation of this transformational transaction, anticipated to close during calendar 2023. The Company expects to create these companies through a tax-free spin-off by AMMO of AOS. Strategic Benefits to Spin-Off The Company believes there are a number of compelling reasons supporting the separation of these two vibrant business units, including: Better Positioned to Enhance Shareholder Value: Compelling and distinct investment opportunities derived from each particular business model. As indepe...