COLUMBIA, Mo., Sept. 25,
2024 /PRNewswire/ -- American Outdoor Brands, Inc.
(NASDAQ Global Select: AOUT), an innovation company that
provides product solutions for outdoor enthusiasts, today announced
that its Board of Directors has approved the repurchase of up to
$10 million of the Company's
outstanding common stock ("shares") commencing on October 1, 2024, and ending on September 30, 2025.
The program follows the Company's prior share repurchase
program, which authorized the Company to repurchase up to
$10.0 million of its common stock,
was initiated in 2023 and, as of September
24, 2024, resulted in 412,735 shares, repurchased at an
average price of $8.70 per share, or
roughly $3.6 million in the
aggregate.
President and Chief Executive Officer, Brian Murphy, said, "Today's announcement
conveys our board's continued confidence in our business and
dedication to stockholder value creation. Given our strong,
debt-free balance sheet, we maintain our commitment to effective
capital allocation, prioritizing our investments in growth, both
organically and through opportunistic and accretive M&A
activity, while maintaining our commitment to returning capital to
our stockholders."
The shares may be repurchased from time to time on the open
market, in block trades, or in privately negotiated transactions.
The amount and timing of any shares repurchased under the program
will be determined at the discretion of management and will depend
on a number of factors, including the market price of the Company's
stock, trading volume, general market and economic conditions, the
Company's capital position, legal requirements, and other
factors. The repurchase program does not obligate the Company
to acquire any particular number of shares, and the repurchase
program may be discontinued at any time at the Company's
discretion.
Statement Regarding Forward-Looking Information
The
statements contained in this release that are not historical are
forward-looking statements within the meaning of the U.S. federal
securities laws and we intend that such forward-looking statements
be subject to the safe harbor created thereby. Statements that are
not historical facts, including statements about anticipated
financial outcomes, and share repurchases, as well as other
statements about our expectations, beliefs, intentions, or
strategies regarding the future, or other characterizations of
future events or circumstances, are forward-looking statements.
These statements relate to future events and our future results and
involve a number of risks and uncertainties. Actual results,
performance or achievement could differ materially from those
contained in these forward-looking statements. Specific
forward-looking statements in this press release include our belief
that, with our strong, debt-free balance sheet, we can maintain our
commitment to effective capital allocation, prioritizing our
investments in growth, both organically and through opportunistic
and accretive M&A activity, while maintaining our commitment to
returning capital to our stockholders. . Forward-looking statements
are based on our beliefs as well as assumptions made by, and
information currently available to us. The risks and uncertainties
to which forward-looking statements are subject include, without
limitation, changes in price and volume and the volatility of our
common stock, unexpected or otherwise unplanned or alternative
requirements with respect to the capital investments of the
Company, changes in general economic, business and political
conditions, and other risks detailed in the "Statement Regarding
Forward-Looking Information," "Risk Factors" and other sections of
the Company's Annual Report on Form 10-K and other filings with the
Securities and Exchange Commission. Except as required by
applicable law or regulation, we disclaim any obligation and do not
intend to publicly update or review any of our forward-looking
statements, whether as a result of new information, future events
or otherwise.
About American Outdoor Brands, Inc.
American Outdoor
Brands, Inc. (NASDAQ Global Select: AOUT) is an innovation company
that provides product solutions for outdoor enthusiasts,
including hunting, fishing, camping, shooting, outdoor cooking, and
personal security and personal defense products. The Company
produces innovative, high quality products under brands including
BOG®; BUBBA®; Caldwell®; Crimson
Trace®; Frankford Arsenal®; Grilla
Grills®; Hooyman®; Imperial®;
LaserLyte®; Lockdown®; MEAT!TM; Old
Timer®; Schrade®; Tipton®; Uncle Henry®;
ust®; and Wheeler®. For more
information about all the brands and products from American Outdoor
Brands, Inc., visit aob.com.
Contact: Liz Sharp, VP,
Investor Relations
lsharp@aob.com
(573) 303-4620
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SOURCE American Outdoor Brands, Inc.
