COLUMBIA, Mo., Sept. 30,
2022 /PRNewswire/ -- American Outdoor Brands, Inc.
(NASDAQ Global Select: AOUT), an industry leading provider of
products and accessories for outdoor enthusiasts, today announced
that its Board of Directors has approved the repurchase of up to
$10 million of the Company's
outstanding common stock ("shares") through September 2023. The share repurchase program is
effective immediately.
President and Chief Executive Officer, Brian Murphy, said, "This announcement
underscores our Board's confidence in our business and its
dedication to stockholder value creation. Our strong balance sheet
and anticipated positive cash flow enable us to prioritize
investing for growth, both organically and through opportunistic
and accretive M&A activity, while maintaining our commitment to
returning capital to our stockholders. As we evaluate our capital
allocation priorities, we believe it is appropriate and important
to have the authority to repurchase stock at our discretion."
The shares may be repurchased from time to time on the open
market, in block trades, or in privately negotiated transactions.
The amount and timing of any shares repurchased under the program
will be determined at the discretion of management and will depend
on a number of factors, including the market price of the company's
stock, trading volume, general market and economic conditions, the
Company's capital position, legal requirements, and other factors.
The repurchase program does not obligate the Company to acquire any
particular number of shares, and the repurchase program may be
discontinued at any time at the Company's discretion.
Statement Regarding Forward-Looking
Information
The statements contained in this release
that are not historical are forward-looking statements within the
meaning of the U.S. federal securities laws and we intend that such
forward-looking statements be subject to the safe harbor created
thereby. Statements that are not historical facts, including
statements about anticipated financial outcomes, and share
repurchases, as well as other statements about our expectations,
beliefs, intentions, or strategies regarding the future, or other
characterizations of future events or circumstances, are
forward-looking statements. These statements relate to future
events and our future results and involve a number of risks and
uncertainties. Actual results, performance or achievement could
differ materially from those contained in these forward-looking
statements. Specific forward-looking statements in this press
release include our Board's confidence in our business and its
dedication to stockholder value; our belief that our strong balance
sheet and anticipated positive cash flow enable us to prioritize
investing for growth, both organically and through opportunistic
and accretive M&A activity, while maintaining our
commitment to returning capital to our stockholders.
Forward-looking statements are based on our beliefs as well as
assumptions made by, and information currently available to, us.
The risks and uncertainties to which forward-looking statements are
subject include, without limitation, changes in price and volume
and the volatility of our common stock, unexpected or otherwise
unplanned or alternative requirements with respect to the capital
investments of the Company, changes in general economic, business
and political conditions, and other risks detailed in the
"Statement Regarding Forward-Looking Information," "Risk Factors"
and other sections of the Company's Annual Report on Form 10-K and
other filings with the Securities and Exchange Commission. Except
as required by applicable law or regulation, we disclaim any
obligation and do not intend to publicly update or review any of
our forward-looking statements, whether as a result of new
information, future events or otherwise.
About American Outdoor Brands, Inc.
American
Outdoor Brands, Inc. (NASDAQ Global Select:
AOUT) is an industry leading provider of outdoor products and
accessories, including hunting, fishing, camping, outdoor cooking,
shooting, and personal security and defense products, for rugged
outdoor enthusiasts. The company produces innovative, top quality
products under its brands BOG®;
BUBBA®; Caldwell®; Crimson
Trace®; Frankford Arsenal®;
Grilla Grills®; Hooyman®;
Imperial®; LaserLyte®;
Lockdown®; MEAT!; Old Timer®;
Schrade®; Tipton®; Uncle
Henry®; ust®; and
Wheeler®. For more information about all the brands and
products from American Outdoor Brands, Inc., visit
www.aob.com.
Contact:
Liz Sharp, VP, Investor
Relations
lsharp@aob.com
(573) 303-4620
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SOURCE American Outdoor Brands, Inc.