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Outdoor Holding Company reports developments tied to GunBroker.com, its online marketplace for firearms, hunting, shooting and related products. Recent updates center on marketplace technology, seller listing tools, Federal Firearms License transfer workflows, quarterly results, investor communications, preferred stock dividends and common-stock repurchase authorization.
The company has also reported the resolution of legacy legal and regulatory matters and describes its post-divestiture focus as a marketplace-centered business. GunBroker.com listings are posted by third-party sellers, with firearm transactions governed by federal and state law and completed through licensed firearms dealers as transfer agents.
AMMO, Inc. (Nasdaq: POWW) announced the closing of its underwritten public offering of 8,564,285 shares at $2.10 per share, resulting in gross proceeds of approximately $17.98 million. The offering proceeds will support capital expenditures, product research and development, sales and marketing enhancements, and general corporate purposes. The company recently uplisted to Nasdaq on December 1, 2020, which CEO Fred Wagenhals believes will help disrupt the ammunition industry and increase shareholder value.
AMMO, Inc. (Nasdaq: POWW) announced a public offering of 8,564,285 shares at $2.10 each, aiming to raise $18 million before expenses. The offering is expected to close on December 3, 2020, and includes an option for underwriters to purchase an additional 1,284,643 shares. The funds will support product development, enhance sales and marketing, and provide working capital. Additionally, AMMO's stock began trading on Nasdaq on December 1, 2020, enhancing visibility and liquidity.
AMMO, Inc. (OTCQB: POWW) anticipates a fiscal second quarter 2021 revenue of approximately $12.0 million, marking a 306% increase year-over-year from $3.0 million in Q2 2020, and a 24% sequential rise from $9.7 million in Q1 2021. The company has increased its revenue guidance for FY 2021 from $42 million to approximately $50 million. The surge in revenue is attributed to robust commercial demand and record orders across various channels. AMMO is on track for positive adjusted EBITDA, focusing on cost management while increasing sales of higher-margin products.
AMMO, Inc. (OTCQB: POWW) announced a record backlog of $80.1 million in booked orders as of August 31, 2020. This marks the highest backlog in the company's history, driven by demand across all sectors including commercial, export, military, and law enforcement. CEO Fred Wagenhals noted a 72% year-over-year increase in federal background checks for firearm purchases, indicating sustained consumer demand. AMMO also projects achieving positive adjusted EBITDA by the fiscal second quarter, supported by ongoing production expansions and careful expense management.