American Outdoor Brands assumes direct lease for Columbia, MO facility; annual expense rises $1.3M

American Outdoor Brands, Inc.

Effective Jan 1, 2024, AOUT became direct tenant under lease for 632,000 sq ft building expiring Nov 26, 2038.
Annual lease expense $3.7M, up $1.3M from prior sublease with Smith & Wesson Sales Company.
AOUT has option to require landlord to expand building by up to 491,000 additional square feet.
Smith & Wesson Brands, Inc. and SWSC will guarantee the lease through initial term.
Prior sublease terminated effective Dec 29, 2023 as condition precedent to assignment.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

American Outdoor Brands, Inc. entered into Assignment and Assumption of Lease Agreement with Smith & Wesson Sales Company (formerly Smith & Wesson Corp.) valued at $3.7 million (effective 2024-01-01).

Action: entry
Agreement: lease
Counterparty: Smith & Wesson Sales Company (formerly Smith & Wesson Corp.)
Value: $3.7 million
Effective: 2024-01-01

Exact text from the filing

We entered into an Assignment and Assumption of Lease Agreement, dated January 31, 2023 (the “Assignment Agreement”), with Smith & Wesson Sales Company (formerly Smith & Wesson Corp.) (“SWSC”), as assignor, and consented to by RCS – S&W Facility, LLC (“RCS”) and Smith & Wesson Brands, Inc. (“SWBI”), pursuant to which SWSC agreed to assign to us its rights as tenant under the Lease Agreement, dated October 26, 2017 (the “Original Lease”), between Ryan Boone County, LLC, as landlord (the “Landlord”), and SWSC, as tenant

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

American Outdoor Brands, Inc. terminated Sublease with Smith & Wesson Sales Company (formerly Smith & Wesson Corp.) (effective 2023-12-29).

Action: termination
Agreement: lease
Counterparty: Smith & Wesson Sales Company (formerly Smith & Wesson Corp.)
Effective: 2023-12-29

Exact text from the filing

Effective December 29, 2023, as a condition precedent to the assignment of the Lease, we and SWSC agreed to terminate the Sublease.

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American Outdoor Brands, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-24-002044

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