SPRINGFIELD, Mass.,
May 27, 2020 /PRNewswire/
-- American Outdoor Brands Corporation (NASDAQ Global
Select: AOBC), one of the world's leading providers of firearms
and quality products for the shooting, hunting, and rugged outdoor
enthusiast, today announced that it will change its name to Smith
& Wesson Brands, Inc., effective
June 1, 2020. The name change
reflects the company's preparation for the previously announced
spin-off of its outdoor products and accessories business as a
tax-free stock distribution to its stockholders in late summer
2020, a transaction that would create two independent, publicly
traded companies: Smith & Wesson
Brands, Inc. (which would encompass the firearm business)
and American Outdoor Brands, Inc. (which would encompass the
outdoor products and accessories business).
The company's common shares will continue to be listed for
trading on the Nasdaq Global Select exchange under the new ticker
symbol 'SWBI' beginning at the market opening on Monday, June 1, 2020. In conjunction with
the name and ticker symbol change, the company's common shares will
be assigned a new CUSIP number of 831754 106.
About American Outdoor Brands Corporation
American
Outdoor Brands Corporation (NASDAQ Global Select: AOBC) is a
provider of quality products for shooting, hunting, and rugged
outdoor enthusiasts in the global consumer and professional
markets. The Company reports two segments: Firearms and Outdoor
Products & Accessories. Firearms manufactures handgun,
long gun, and suppressor products sold under the iconic Smith &
Wesson®, M&P®, Thompson/Center Arms™, and Gemtech® brands, as
well as provides forging, machining, and precision plastic
injection molding services. Outdoor Products & Accessories is
an industry leading provider of shooting, reloading, gunsmithing
and gun cleaning supplies, specialty tools and cutlery, and
electro-optics products and technology for firearms. This segment
produces innovative, top quality products under the brands
Caldwell®; Crimson Trace®; Wheeler®; Tipton®; Frankford Arsenal®;
Lockdown®; BOG®; Hooyman®; Smith & Wesson® Accessories;
M&P® Accessories; Thompson/Center Arms™ Accessories;
Performance Center® Accessories; Schrade®; Old Timer®; Uncle
Henry®; Imperial®; BUBBA®; UST®; and LaserLyte®. For more
information on American Outdoor Brands Corporation, call (844)
363-5386 or log on to www.aob.com.
Safe Harbor Statement
Certain statements contained in
this press release may be deemed to be forward-looking statements
under federal securities laws, and we intend that such
forward-looking statements be subject to the safe-harbor created
thereby. Such forward-looking statements include, among
others, our expectation of the effective date of the name change;
our expectation to complete the spin-off of our outdoor products
and accessories business as a tax-free stock distribution to our
stockholders in late summer 2020, thereby creating two independent,
publicly traded companies: Smith & Wesson Brands, Inc. (which would encompass the
firearm business) and American Outdoor Brands, Inc. (which would
encompass the outdoor products and accessories business); and our
expectation that our common shares will continue to be listed for
trading on the Nasdaq Global Select exchange under the new ticker
symbol 'SWBI' beginning at the market opening on Monday, June 1, 2020. We caution that these
statements are qualified by important risks, uncertainties, and
other factors that could cause actual results to differ materially
from those reflected by such forward-looking statements. Such
factors include, among others, economic, social, political,
legislative, and regulatory factors; the potential for increased
regulation of firearms and firearm-related products; actions of
social activists that could have an adverse effect on our business;
the impact of lawsuits; the demand for our products; the state of
the U.S. economy in general and the firearm industry in particular;
general economic conditions and consumer spending patterns; our
competitive environment; the supply, availability, and costs of raw
materials and components; the impact of protectionist tariffs and
trade wars; speculation surrounding fears of terrorism and crime;
our anticipated growth and growth opportunities; our ability to
increase demand for our products in various markets, including
consumer, law enforcement, and military channels, domestically and
internationally; our penetration rates in new and existing markets;
our strategies; our ability to maintain and enhance brand
recognition and reputation; risks associated with the establishment
of our new 630,000 square foot Logistics & Customer Services
facility in Missouri; our ability
to introduce new products; the success of new products; our ability
to expand our markets; our ability to integrate acquired businesses
in a successful manner; the general growth of our outdoor products
and accessories business; the potential for cancellation of orders
from our backlog; the completion of our proposed spin-off;
and other risks detailed from time to time in our reports filed
with the SEC, including our Annual Report on Form 10-K for the
fiscal year ended April 30, 2019.
Contact: Liz Sharp, VP
Investor Relations
American Outdoor Brands Corporation
(413) 747-6284
lsharp@aob.com
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SOURCE American Outdoor Brands Corporation
