Outdoor Holding Company Announces Settlement and Leadership Transition
Leadership Changes: Steve Urvan, founder of GunBroker.com and the largest shareholder, has been appointed as Chairman and CEO of Outdoor Holding Company, effective May 30, 2025, following a settlement of litigation and the divestiture of the ammunition manufacturing division.
Compliance Update: The company has regained compliance with Nasdaq's reporting requirements after filing its Forms 10-Q, and plans to file its annual report on Form 10-K for fiscal year 2025 in a timely manner.
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Outdoor Holding resolves SEC investigation without facing penalties.
SEC Investigation Settlement: Outdoor Holding (POWW) has settled an SEC investigation regarding disclosure failures and accounting violations without facing civil penalties or monetary sanctions.
Disclosure Failures: The company failed to disclose a former executive's role, related party transactions, and had issues with equity issuance costs, stock compensation expenses, adjusted EBITDA calculations, and internal accounting controls.
Management Changes: The order noted that Outdoor Holding is now under new senior management, distinct from those involved in the previous violations.
Remediation Efforts: The company has implemented a multi-phase remediation program, including an independent investigation and restatement of financial results for fiscal years 2022-2025, overseen by its board and committees.
Outdoor Holding Company Declares Dividend on Preferred Stock
Dividend Announcement: Outdoor Holding Company will pay a cash dividend of $0.546875 per share on its 8.75% Series A Preferred Stock to holders of record as of December 1, 2025, with payment scheduled for December 15, 2025.
Company Overview: Outdoor Holding Company, based in Atlanta, owns GunBroker.com, the largest online marketplace for firearms and related products, and is a producer of high-performance ammunition.
GunBroker.com Details: Launched in 1999, GunBroker.com facilitates the sale of firearms and shooting sports equipment through third-party sellers, adhering to federal and state laws regarding firearm sales.
Forward-Looking Statements: The announcement includes forward-looking statements regarding the company's future operations and financial projections, cautioning readers against placing undue reliance on these estimates.
