The company will hold a special meeting of stockholders on Dec. 13, 2016, to seek approval for the change.
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According to a release from Smith & Wesson:
The proposed holding corporation name change has been approved by the Company’s Board of Directors and reflects the Company’s expanding strategic focus on the growing markets for shooting, hunting, and rugged outdoor enthusiasts. If approved by stockholders, American Outdoor Brands Corporation will serve as the holding corporation for Smith & Wesson Corp., Battenfeld Technologies, Inc., and Crimson Trace Corporation, which represent the company’s firearms, manufacturing services, accessories, and electro-optics divisions.
“By executing on our strategy to be a leader in the shooting, hunting, and rugged outdoor enthusiast markets, we have successfully grown from a single operating division to four operating divisions that serve a large addressable market and represent more than 18 respected consumer brands,”James Debney, President and Chief Executive Officer of Smith & Wesson, said in a statement. “We believe the name ‘American Outdoor Brands Corporation’ will better reflect our family of brands, our broad range of product offerings, and our plan to continue building upon our portfolio of strong American brands. Looking forward, we intend to aggressively grow organically and through strategic acquisitions, focusing on brands and products that best meet the needs and lifestyle of our target consumers.”
The company said the name change would be effective on or about Jan. 1, 2017, if approved by the stockholders.
According to the release, “At the same time, the company also anticipates it will adopt the symbol ‘AOBC’ for its NASDAQ stock exchange listing.” It is currently listed as SWHC.