Urvan, Ammo’s biggest shareholder, created GunBroker.com more than 20 years ago and he joined the Ammo board following its purchase of the platform last year.Under Ammo’s proposed breakup plan, the company would be split into Outdoor Online Inc. and Action Outdoor Sports Inc., or AOS. Outdoor Online would take GunBroker and the related e-commerce businesses, while AOS would take over the legacy bullet manufacturing business.
“We reasonably believe that the spin-off strategy is the best course of action to unlock unrecognized long-term shareholder value – and that truly is the singular goal my team and I focus on each day and night as we work to build this business,” Wagenhals said inBut the whole separation plan may be on hold if Urvan, who holds 17.1% of Ammo's outstanding shares, gets his way.
“I want to apply my unique track record of success in e-commerce, firearms and outdoor sporting, and investing to lead an ongoing transformation of AMMO in the public market,” Urvan wrote.
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