By Connor Hart
AMMO Inc. on Monday announced its plan to separate its ammunition and marketplace businesses into two independent publicly traded companies.
The Scottsdale, Ariz.-based company owns GunBroker.com, which the company said is the largest online marketplace serving the firearms and shooting sports industries.
The board of directors unanimously approved a plan to separate the company into two companies: Outdoor Online Inc., which would be comprised of GunBroker.com and its related online businesses, and Action Outdoor Sports Inc., which would house the company’s ammunition and munitions components business.
Fred Wagenhals, AMMO’s chairman and chief executive, would assume the same roles in Outdoor Online, the company said.
The chief executive, executive management team and board of directors of Action Outdoor would be announced at a later date, the company said.
The company said the transformational transaction is expected to close during calendar 2023.
AMMO said it anticipates the transaction would be in the form of a dividend distribution to its shareholders of 100% of the stock of Action Outdoor Sports.
Write to Connor Hart at connor.hart@wsj.com
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