AMMO Inc. (POWW) Prices 20M Share Common Offering at $5/Sh

AMMO, Inc. (NASDAQ: POWW) today announced the pricing of an underwritten public offering of 20,000,000 newly issued shares of its common stock at a price of $5.00 per share. The gross proceeds to the Company from the offering are expected to be approximately $100 million before deducting underwriting discounts and commissions and estimated offering expenses payable by the Company. AMMO has also granted to the underwriters of the offering a 30-day option to purchase an additional 3,000,000 shares of common stock to cover overallotments in connection with the offering. The offering is expected to close on March 16, 2021, subject to customary closing conditions.

Roth Capital Partners and Alexander Capital are acting as joint book-running managers for the offering.

AMMO intends to use the net proceeds from this offering for general corporate purposes and working capital purposes, including debt reduction and capital expenditures. In addition, AMMO may use a portion of the proceeds for potential acquisitions.

The shares of common stock are being offered pursuant to an effective shelf registration statement (333-253192) that AMMO previously filed with the Securities and Exchange Commission (SEC), which became effective on February 24, 2021.

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