Outdoor Holding issues warrant for 13M shares; $39M note extinguished in settlement step

Outdoor Holding Co

On Sept 17, 2025, independent directors approved prepayment option to settle $39M unsecured promissory note (4.62% interest) by issuing a warrant for 13M common shares.
Warrant issued to GDI Air III LLC (Urvan designee); stockholder approval obtained at Aug 29, 2025 annual meeting per Nasdaq Listing Rule 5635.
Note obligations fully satisfied upon warrant issuance; note originated from May 2025 settlement agreement with Steven F. Urvan and former board members.
Prepayment option exercised prior to May 30, 2026 deadline; warrant shares rely on Section 4(a)(2) and Regulation D exemption.

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