American Outdoor Brands expands Columbia lease to full 632K sq ft facility; schedules Q3 FY2023 earnings call

American Outdoor Brands, Inc.

Effective Jan 1, 2024, AOB takes over entire 632K sq ft facility, up from 361K sq ft sublease.
Incremental annual lease expense of ~$1.3M expected to be offset by savings from recent facility consolidations.
Option to expand building by up to 491K additional square feet; lease ends Nov 26, 2038.
Assignment subject to conditions including local approvals; Smith & Wesson Brands guarantees lease.
Q3 FY2023 financial results to be released March 9, 2023, with conference call same day.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

American Outdoor Brands, Inc. entered into Assignment and Assumption of Lease Agreement with Smith & Wesson Sales Company valued at Assignment of lease rights; annual expense estimated at $3.7 million (effective 2023-01-31).

Action: entry
Agreement: lease
Counterparty: Smith & Wesson Sales Company
Value: Assignment of lease rights; annual expense estimated at $3.7 million
Effective: 2023-01-31

Exact text from the filing

Pursuant to the Assignment and Assumption of Lease Agreement, dated January 31, 2023 (the “ Assignment Agreement ”), executed by Smith & Wesson Sales Company (formerly Smith & Wesson Corp.) (“ SWSC ”), as assignor, and American Outdoor Brands, Inc. (“ AOB ”), as assignee, and consented to by RCS – S&W Facility, LLC (“ RCS ”) and Smith & Wesson Brands, Inc. (“ SWBI ”), SWSC agreed to assign to AOB the rights of the tenant under the Lease Agreement, dated October 26, 2017 (the “ Original Lease ”), between Ryan Boone County, LLC, as landlord, and Smith & Wesson Corp., as tenant, as amended by the First Amendment of Lease Agreement, dated October 25, 2018 (“ Amendment 1 ”), and as further amended by the Second Amendment to Lease Agreement, dated January 31, 2019 (“ Amendment 2 ”) (collectively, the “ Lease ”), which assignment will be effective on effective on January 1, 2024 (the “ Assignment Date ”).

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American Outdoor Brands, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-001521

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