Smith & Wesson Brands has completed the previously announced spin-off of its outdoor products and accessories business
Smith & Wesson Brands, Inc. will continue to trade on NASDAQ under the ticker symbol "SWBI." The spin-off company, American Outdoor Brands, Inc., will begin trading Aug. 25 on NASDAQ under the symbol "AOUT."
The move was announced by Smith & Wesson in 2019.
The spin-off distribution was completed at 12:01 a.m. Eastern Time on Aug. 24, 2020, to stockholders of record of SWBI as of the close of business on the record date of Aug. 10, 2020. Each SWBI common stockholder received one share of AOUT common stock for every four shares of SWBI common stock held as of the record date.
No action or payment was required by stockholders of SWBI to receive the new AOUT shares. Stockholders who held SWBI common stock as of the record date will receive a book-entry account statement reflecting their ownership of the new AOUT shares or have their brokerage account credited with the new AOUT shares.
The spin-off has been structured to qualify as a tax-free distribution to SWBI stockholders and SWBI for U.S. federal income tax purposes. SWBI stockholders are urged to consult with their tax advisors with respect to the federal, state, local, and foreign tax consequences of the spin-off.
Smith & Wesson Brands is a U.S.-based leader in firearm manufacturing and design, delivering a broad portfolio of quality handgun, long gun, and suppressor products to the global consumer and professional markets under the iconic Smith & Wesson, Thompson/Center Arms, and Gemtech brands.
The company also provides manufacturing services including forging, machining, and precision plastic injection molding services.
The spin-off of American Outdoor Brands includes the former Smith & Wesson Brands Outdoor Products & Accessories segment with 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.
