https://www.globenewswire.com/news-r...roker-com.htmlAMMO, Inc. Executes Letter of Intent to Acquire GunBroker.com
SCOTTSDALE, Ariz., Feb. 11, 2021 (GLOBE NEWSWIRE) -- AMMO, Inc. (Nasdaq: POWW ) (“AMMO” or the “Company”), a premier American ammunition and munition components manufacturer and technology leader, is pleased to announce it has entered into a non-binding letter of intent (“LOI”) dated February 9, 2021 with IA Tech LLC for its GunBroker.com business (GunBroker.com), the world’s largest on-line auction marketplace dedicated to firearms, hunting, shooting and related products. The Transaction will involve a merger or business combination resulting in GunBroker.com becoming a wholly-owned subsidiary of AMMO (the “Transaction”).
GunBroker.com Transaction
-GunBroker.com is the world’s leading online marketplace for the legal sale of firearms, ammunition and accessories with over 6.0 million registered users
-GunBroker.com’s estimated 2020 revenue of approximately $60 million, over $40 million of EBITDA, positive net income and strong free cash flow
-Purchase price of approximately $240 million, representing a purchase price to EBITDA multiple of less than 6.0x
Transaction further expands upon AMMO’s vertical integration strategy
Current AMMO shareholders will own the majority of the combined company
“This Transaction is accretive to our shareholders and will be another vertical integration milestone for the Company which diversifies our revenue base with high profit-margin business offered through a premier brand deploying best-in-class secure transactional technology,” said Fred Wagenhals, AMMO’s Chairman and CEO.
|
Closed Thread
Results 8,041 to 8,042 of 8042
-
02-11-2021, 09:39 AM #8041
- Join Date: Dec 2010
- Location: Georgia, United States
- Posts: 26,310
- Rep Power: 352954
“A society that puts equality before freedom will get neither. A society that puts freedom before equality will get a high degree of both.”
-
02-11-2021, 09:45 AM #8042
sorry, been busy selling firearms and ammo...
new https://forum.bodybuilding.com/showt...hp?t=179734073☆ MissChill Appreciation Crew ☆ Owner ☆ Σ ☆
Bookmarks