American Outdoor Brands Corporation announced that it will change its name to Smith & Wesson Brands, Inc., effective June 1, 2020.
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’s common shares will continue to be listed for trading on the Nasdaq Global Select exchange under the new ticker symbol ‘SWBI’ beginning at the market opening on Monday, June 1, 2020. In conjunction with the name and ticker symbol change, the company’s common shares will be assigned a new CUSIP number of 831754 106.
American Outdoor Brands Corporation reports two segments: Firearms and Outdoor Products & Accessories. Firearms manufactures handgun, long gun and suppressor products sold under the 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 a 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 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.
