Brief: Ammo announces plan to separate ammunition and marketplace businesses into two independent publicly traded companies

Outdoor Holding

15/08/2022 13:50

Aug 15 (Reuters) - Ammo Inc  POWW.O :
    * AMMO, INC. ANNOUNCES PLAN TO SEPARATE AMMUNITION AND
MARKETPLACE
BUSINESSES INTO TWO INDEPENDENT PUBLICLY TRADED COMPANIES
    * AMMO INC - TRANSACTION EXPECTED TO BE COMPLETED IN 2023
CALENDAR
YEAR
    * AMMO INC - OUTDOOR ONLINE, INC. WILL BE COMPRISED OF
GUNBROKER.COM AND ITS RELATED ONLINE BUSINESSES
    * AMMO INC - CURRENT AMMO CHAIRMAN & CEO, FRED WAGENHALS,
WILL
ASSUME CHAIRMAN & CEO ROLE IN OUTDOOR ONLINE
    * AMMO INC - SECOND ENTITY, ACTION OUTDOOR SPORTS, INC.
("AOS"),
WILL RETAIN COMPANY'S CURRENT AMMUNITION AND MUNITION COMPONENTS
BUSINESS
    * AMMO INC - AOS CEO, EXECUTIVE MANAGEMENT TEAM AND BOARD OF
DIRECTORS WILL BE ANNOUNCED AT A LATER DATE
    * AMMO INC - COMPANY EXPECTS TO CREATE THESE COMPANIES
THROUGH A
TAX-FREE SPIN-OFF BY AMMO OF AOS
    * AMMO INC - AOS CORPORATE OPERATIONS WILL REMAIN
HEADQUARTERED IN
SCOTTSDALE, ARIZ., WITH MANUFACTURING OPERATIONS BASED IN
MANITOWOC, WISC
    * AMMO INC - ANTICIPATES TRANSACTION WILL BE IN FORM OF A
DIVIDEND
DISTRIBUTION TO ITS SHAREHOLDERS OF 100% OF STOCK OF AOS
    * AMMO INC - CONCURRENTLY, AMMO WILL CHANGE ITS NAME TO
OUTDOOR
ONLINE AND WILL OPERATE UNDER A NEW TICKER SYMBOL

Source text for Eikon:  ID:nGNX3wJDV5 
Further company coverage:  POWW.O