American Outdoor Brands Corporation (NASDAQ Global Select: AOBC) announced yesterday that it will change its name to Smith & Wesson Brands, Inc., effective June 1, 2020.The change reflects the company’s preparation for the previously announced spin-off of its outdoor products and accessories business as a tax-free stock distribution to stockholders in late summer 2020. The transaction will create two independent, publicly traded companies: Smith & Wesson Brands, Inc.—the firearm business—and American Outdoor Brands, Inc., which will encompass outdoor products and accessories.
The company’s common shares will continue to be listed for trading on the Nasdaq Global Select exchange under the new ticker symbol ‘SWBI’ beginning at market opening on Monday, June 1. In conjunction with the name and ticker symbol change, the company’s common shares will be assigned a new CUSIP number of 831754 106.
The American Outdoor Brands portfolio is a diverse one.It’s currently the parent company of firearm firms Smith & Wesson and Thompson/Center Arms, as well as various affiliated companies such as the M&P and Performance Centers of Smith & Wesson. Also included in the firearm-related side of the business would be the recently acquired suppressor maker, Gemtech.
Crimson Trace joined its growing portfolio of electro-optic companies in 2016, and LaserLytefollowed last year. Accessory companies and brands include: Bog, Bubba, Caldwell, Frankford Arsenal, Golden Rod Moisture Control, Hooyman Premium Tree Saws, Imperial, M&P Accessories, Old Timer, Schrade, Smith & Wesson Accessories, Thompson/Center Accessories, Tipton Gun Cleaning Supplies and Wheeler Engineering. Many are renowned in the firearm industry.
American Outdoor Brands also runs a pair of firms that offer manufacturing services. They are Smith & Wesson Precision Components and Smith & Wesson, and services vary from injection molding of plastics to heat treating all the way up to custom forging of critical components.