AMMO (NASDAQ: POWW), a premier American ammunition and munition components manufacturer and technology leader, has closed on a previously underwritten public offering. The offering comprised of 23 million shares of common stock; that total includes 3 million shares that the company offered pursuant to the full exercise of the overallotment option granted to the underwriters. Sold at the public offering price of $5 per share, the public sharing resulted in gross proceeds of $115 million for AMMO. In the announcement, the company noted that it plans to use the proceeds from the offering potential acquisitions or general corporate and working capital purposes, which could include debt reduction and capital expenditures. Roth Capital Partners acted as joint book-running manager for the offering.
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About AMMO Inc.
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(TM) Visual Ammunition, /stelTH/(TM) subsonic munitions and armor-piercing rounds for military use. For more information about the company, visit www.AMMOInc.com.
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