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AMMO, INC. ANNOUNCES PRICING OF $100 MILLION UNDERWRITTEN PUBLIC OFFERING OF COMMON STOCK
SCOTTSDALE, Ariz., March 12, 2021 (GLOBE NEWSWIRE) -- AMMO, Inc. (Nasdaq: POWW) (“AMMO” or the “Company”), a premier American ammunition and munition
About this update from Outdoor Holding Company
[{"type":"text","content":"SCOTTSDALE, Ariz., March 12, 2021 (GLOBE NEWSWIRE) -- AMMO, Inc. (Nasdaq: POWW) (“AMMO” or the “Company”), a premier American ammunition and munition components manufacturer and technology leader, today announced the pricing of an underwritten public offering of 20,000,000 newly issued shares of its common stock at a price of $5.00 per share. The gross proceeds to the Company from the offering are expected to be approximately $100 million before deducting underwriting discounts and commissions and estimated offering expenses payable by the Company. AMMO has also granted to the underwriters of the offering a 30-day option to purchase an additional 3,000,000 shares of common stock to cover overallotments in connection with the offering. The offering is expected to close on March 16, 2021, subject to customary closing conditions. Roth Capital Partners and Alexander Capital are acting as joint book-running managers for the offering. AMMO intends to use the net proceeds from this offering for general corporate purposes and working capital purposes, including debt reduction and capital expenditures. In addition, AMMO may use a portion of the proceeds for potential acquisitions. The shares of common stock are being offered pursuant to an effective shelf registration statement (333-253192) that AMMO previously filed with the Securities and Exchange Commission (SEC), which became effective on February 24, 2021. An electronic preliminary prospectus supplement and the accompanying prospectus relating to the offering has been filed with the SEC and is available on the SEC's website at www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectus relating to the offering may also be obtained from Roth Capital Partners, LLC, 888 San Clemente Drive, Newport Beach, California 92660, Attn: Equity Capital Markets, via telephone at (800) 678-9147 or via e-mail at [email protected] or from Alexander Capital, L.P., 17 State Street, New York, New York 10014, 212-687-5650, [email protected]. A final prospectus supplement and accompanying base prospectus describing the final terms of the offering will be filed with the SEC and, when available, may be obtained by accessing the SEC’s website or by contacting Roth Capital Partners, LLC or Alexander Capital, L.P at the phone numbers and email addresses listed in the ...