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Outdoor Holding Co (NASDAQ:POWW), currently valued at $168.64 million in market capitalization, announced Monday that it has issued a warrant to purchase 13 million shares of its common stock as part of a settlement agreement. The move satisfies in full a previously issued unsecured promissory note with a principal amount of $39 million. According to InvestingPro data, the company maintains a strong liquidity position with more cash than debt on its balance sheet.
According to a statement based on a Securities and Exchange Commission filing, the warrant was issued to GDI Air III LLC, an affiliated designee of Steven F. Urvan, on September 17. The warrant issuance follows approval by Outdoor Holding’s stockholders at the company’s annual meeting on August 29, in accordance with Nasdaq Listing Rule 5635.
The promissory note, which was originally issued on May 30, 2025, carried an interest rate of 4.62% per year, with a potential increase in the event of default. Under the terms of the note, Outdoor Holding Co had the option to prepay the outstanding principal and accrued interest in exchange for the warrant, subject to stockholder approval.
The independent and disinterested members of the company’s board approved the exercise of this prepayment option on September 17, resulting in the issuance of the warrant and the satisfaction of all obligations under the note.
Outdoor Holding Co, formerly known as AMMO, Inc., is incorporated in Delaware and headquartered in Scottsdale, Arizona. Its common stock and 8.75% Series A Cumulative Redeemable Perpetual Preferred Stock are listed on the Nasdaq Capital Market under the symbols POWW and POWWP, respectively. The company has demonstrated impressive revenue growth of 62.9% over the last twelve months, with analysts projecting profitability this year. For detailed analysis and additional insights, investors can access the comprehensive Pro Research Report available on InvestingPro, which covers over 1,400 US stocks.
This report is based on a press release statement and information disclosed in the company’s recent SEC filing.
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