Last November, TFB reported that American Outdoors would be splitting from Smith & Wesson. In a June 1, 2020 press release, American Outdoor Brands announced substantive new strides to this end with a name and stock ticker symbol change. They are preparing to spin off their outdoor products and accessories business, which will remain under the American Outdoors name, from their firearms manufacturing business, chief among which is the Smith & Wesson brand. This move is pending additional preparatory steps including a tax-free stock distribution as well as a 4Q and full fiscal 2020 financial release. This stock distribution, slated for late summer, will effectively create the two independent, publicly traded companies. The press release reads as follows.
SPRINGFIELD, Mass., June 1, 2020 – Smith & Wesson Brands, Inc. (NASDAQ Global Select: SWBI), (formerly American Outdoor Brands Corporation), one of the world’s leading providers of firearms and quality products for the shooting, hunting, and rugged outdoor enthusiast, has changed its name from American Outdoor Brands Corporation to Smith & Wesson Brands, Inc. and its ticker symbol from AOBC to SWBI. 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 also unveiled the logo for the American Outdoor Brands, Inc. spin-off company, which is also available for viewing at www.aout.aob.com.
Barry M. Monheit, Chairman of the Board, said, “The name change of our parent company is an important step toward spinning off our outdoor products and accessories business, which remains on track to occur in late summer. We believe that separating into two independent public companies will allow each organization to better align its strategic objectives with its capital allocation priorities. We also believe that this action will give the investment community clearer insight into the value creation potential in each of these independent companies, ultimately driving enhanced stockholder value.”
The company’s common shares continue to be listed for trading on the Nasdaq Global Select exchange under the ticker symbol ‘SWBI’. In conjunction with the name and ticker symbol change, the company’s common shares have been assigned a new CUSIP number of 831754 106.
The company also announced that it plans to release its fourth quarter and full fiscal 2020 financial results on Thursday, June 18, after the close of the market. The full text of the press release will be available on the Smith & Wesson Brands, Inc. web site at www.aob.com under the Investor Relations section.
Financial Results Conference Call
The company will host a conference call and webcast on June 18, 2020, to discuss its fourth quarter and full fiscal 2020 financial and operational results. Speakers on the conference call will include Brian Murphy, Co-President and Co-Chief Executive Officer, Mark Smith, Co-President and Co-Chief Executive Officer, and Jeffrey D. Buchanan, Executive Vice President and Chief Financial Officer. The conference call may include forward-looking statements. The conference call and webcast will begin at 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time). Those interested in listening to the conference call via telephone may call directly at (844) 309-6568 and reference conference identification number 4395365. No RSVP is necessary. The conference call audio webcast can also be accessed live on the company’s website at www.aob.com, under the Investor Relations section.
About Smith & Wesson Brands, Inc.
Smith & Wesson Brands, Inc. (NASDAQ Global Select: SWBI) 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 call (844) 363-5386 or log on to www.aob.com.