Alliant Techsystems Inc. has established Feb. 2 as the record date for the previously announced spin-off of its Sporting Group business to ATK stockholders as a newly formed company named Vista Outdoor Inc.
ATK is spinning off the firearms and optics business in conjunction with its merger or its aerospace and defense unit with Orbital Sciences Corp.
On the closing date, which is expected to be Feb. 9, ATK stockholders as of the close of business on Feb. 2, the record date for the distribution, will receive two shares of Vista Outdoor common stock for every one share of ATK common stock they hold on the record date. Vista Outdoor common stock is expected to trade on a “when-issued” basis on the NYSE from Jan. 29 through Feb. 9. On the first trading day following the closing, which is expected to be Feb. 10, “regular way” trading of Vista Outdoor common stock under the symbol “VSTO” will begin.
ATK plans to release certain fiscal year 2015 third quarter results for Vista Outdoor Inc. Jan. 28.
Vista Outdoor will be headquartered in Utah, employ approximately 5,800 employees globally. The company's brands include: Federal Premium, Bushnell, Savage Arms, Blackhawk!, Primos, Final Approach, Uncle Mike's, Hoppe's, RCBS, Alliant Powder, CCI, Speer, Champion Targets, Gold Tip Arrows, Weaver Optics, Outers, Bolle, Cebe, and Serengeti.
