AMMO, INC. ANNOUNCES PRICING OF $100 MILLION UNDERWRITTEN PUBLIC OFFERING OF COMMON STOCK
March 12 2021 - 8:04AM
AMMO, Inc. (Nasdaq: POWW) (“AMMO” or the “Company”), a premier
American ammunition and munition components manufacturer and
technology leader, today announced the pricing of an underwritten
public offering of 20,000,000 newly issued shares of its common
stock at a price of $5.00 per share. The gross proceeds to the
Company from the offering are expected to be approximately $100
million before deducting underwriting discounts and commissions and
estimated offering expenses payable by the Company. AMMO has also
granted to the underwriters of the offering a 30-day option to
purchase an additional 3,000,000 shares of common stock to cover
overallotments in connection with the offering. The offering is
expected to close on March 16, 2021, subject to customary closing
conditions.
Roth Capital Partners and Alexander Capital are
acting as joint book-running managers for the offering.
AMMO intends to use the net proceeds from this
offering for general corporate purposes and working capital
purposes, including debt reduction and capital expenditures. In
addition, AMMO may use a portion of the proceeds for potential
acquisitions.
The shares of common stock are being offered
pursuant to an effective shelf registration statement (333-253192)
that AMMO previously filed with the Securities and Exchange
Commission (SEC), which became effective on February 24, 2021. An
electronic preliminary prospectus supplement and the accompanying
prospectus relating to the offering has been filed with the SEC and
is available on the SEC's website at www.sec.gov. Copies of the
preliminary prospectus supplement and the accompanying prospectus
relating to the offering may also be obtained from Roth Capital
Partners, LLC, 888 San Clemente Drive, Newport Beach, California
92660, Attn: Equity Capital Markets, via telephone at (800)
678-9147 or via e-mail at rothecm@roth.com or from Alexander
Capital, L.P., 17 State Street, New York, New York 10014,
212-687-5650, info@alexandercapitallp.com. A final prospectus
supplement and accompanying base prospectus describing the final
terms of the offering will be filed with the SEC and, when
available, may be obtained by accessing the SEC’s website or by
contacting Roth Capital Partners, LLC or Alexander Capital, L.P at
the phone numbers and email addresses listed in the previous
sentence.
This press release does not constitute an offer
to sell or the solicitation of an offer to buy any securities of
AMMO being offered, and shall not constitute an offer, solicitation
or sale of any security in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction.
About AMMO, Inc.
With its corporate offices headquartered in
Scottsdale, Arizona. AMMO designs and manufactures products for a
variety of aptitudes, including law enforcement, military, sport
shooting and self-defense. The Company was founded in 2016 with a
vision to change, innovate and invigorate the complacent munitions
industry. AMMO promotes branded munitions as well as its patented
STREAK VISUAL AMMUNITION™, and armor piercing rounds for
military use. For more information, please
visit: www.ammo-inc.com.
Forward Looking Statements
This press release contains certain
“forward-looking statements”. All statements other than statements
of historical fact are “forward-looking statements” for purposes of
federal and state securities laws, including, but not limited to,
any projections of earnings, revenue or other financial items; any
statements of the plans, strategies, goals and objectives of
management for future operations; any statements concerning
proposed new products and services or developments thereof; any
statements regarding future economic conditions or performance; any
statements of belief; and any statements of assumptions underlying
any of the foregoing.
Forward looking statements may include the words
“may,” “could,” “estimate,” “intend,” “continue,” “believe,”
“expect” or “anticipate” or other similar words, or the negative
thereof. These forward-looking statements present our estimates and
assumptions only as of the date of the statements. Accordingly,
investors are cautioned not to place undue reliance on
forward-looking statements, which speak only as of the dates on
which they are made. Such forward-looking statements are based on
our current beliefs and expectations, which we believe are
reasonable. However, forward-looking statements are subject to
significant known and unknown risks and uncertainties that may
cause actual results, performance or achievements in future periods
to differ materially from those assumed, projected or contemplated
in the forward-looking statements. We do not undertake to update
forward-looking statements to reflect the impact of circumstances
or events that arise after the dates they are made. You should,
however, consult further disclosures and risk factors we include in
our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and
Current Reports filed on Form 8-K.
Investor Contact: Rob Wiley, CFO AMMO, Inc.
Phone: (480) 947-0001 IR@ammo-inc.com
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