Fannie Mae, Freddie Mac shares tumble after conservatorship comments
SCOTTSDALE, AZ – Ammo , Inc. (NASDAQ:POWW), a leading munitions manufacturer with a market capitalization of $167 million, disclosed the immediate departure of board member Jessica M. Lockett. The company, which specializes in the production of ordnance and accessories, announced on Monday that Lockett resigned from her position on the Board of Directors and from all board committees.
The resignation, effective March 30, 2025, was not due to any disagreements with the company’s operations, policies, or practices, according to the statement provided in the SEC filing. The news comes as a straightforward update without additional details regarding the reasons behind Lockett’s decision or any potential successors. According to InvestingPro analysis, the company maintains strong financial health with liquid assets exceeding short-term obligations.
Ammo, Inc., headquartered in Scottsdale, Arizona, operates under the Ordnance & Accessories industry as defined by the Standard Industrial Classification system. The company, formerly known as Retrospettiva Inc., is incorporated in Delaware and has its fiscal year-end on March 31.
The company’s common stock, with the ticker POWW, and its 8.75% Series A Cumulative Redeemable Perpetual Preferred Stock, with the ticker POWWP, are both traded on The Nasdaq Stock Market LLC (Nasdaq Capital Market). While the stock has shown strong year-to-date returns of 24.5%, InvestingPro analysis indicates the company is currently trading below its Fair Value. This executive change has been officially filed with the SEC and is publicly documented in the form of an 8-K filing, which serves to inform shareholders and the market of significant events.
Ammo, Inc.’s contact details and principal executive office address remain unchanged at 7681 E. Gray Rd., Scottsdale, AZ 85260, with the business phone listed as 480-947-0001. The company’s leadership, including CEO Jared R. Smith, is tasked with managing the transition following Lockett’s resignation.
This report is based on a press release statement and provides the facts surrounding the recent change in Ammo, Inc.’s board composition. No further information has been disclosed at this time.
In other recent news, Ammo, Inc. has announced the date for its 2025 annual stockholders meeting, scheduled for July 29, 2025. The record date for determining eligible stockholders to vote is set for June 6, 2025, marking a shift of more than 30 days from the previous year’s meeting. Stockholders interested in submitting proposals for inclusion in the proxy materials must do so by May 15, 2025, following SEC rules. Additionally, those wishing to solicit proxies for director nominees other than the company’s must submit the required notice by May 30, 2025. This announcement comes from a recent SEC filing, providing stockholders with essential information about participation in the company’s governance. Further details about the meeting will be included in the proxy statement to be issued. The filing also outlines the deadlines for stockholder proposals, emphasizing the importance of adhering to SEC regulations.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.