AMMO, which manufactures ammunition products for the sporting and other industries, filed on Tuesday with the SEC to raise up to $15 million in an initial public offering. The company is currently listed on the OTCQB (POWW).
The company designs, produces, and markets ammunition and ammunition component products for sport and recreational shooters, hunters, and law enforcement and military agencies, among others. AMMO uses predominantly American-made components and raw materials, and it operates facilities in Payson, Arizona and Manitowoc, Wisconsin. Through its acquisition of Jagemann Stamping's ammunition casing manufacturing and sales operations, the company is now able to sell ammunition casings products of various types.
The Scottsdale, AZ-based company was founded in 2016 and booked $20 million in sales for the 12 months ended June 30, 2020. It plans to list on the Nasdaq under the symbol POWW. Joseph Gunnar is the sole bookrunner on the deal. No pricing terms were disclosed.
