Outdoor Holding Co (POWW): debt financing — Outdoor Holding settles litigation, appoints founder Steve Urvan as CEO/Chairman; issues $51M notes, 7M share warrant

Outdoor Holding Co

Steve Urvan becomes CEO and Chairman effective May 30; founder Jared Smith resigns with $625K severance and full equity vesting.
Settlement includes $12M note at 6.5% (12-yr term) and $39M note at AFR (10-yr); Urvan gets warrant for 7M shares at $1.81.
Company may prepay $39M note within 1 year with additional warrant for 13M shares at $1.00, subject to stockholder approval.
Litigation related to GunBroker.com acquisition dismissed with prejudice; parties release claims and agree to standstill provisions.
Company regains Nasdaq compliance after filing delayed Q1 and Q2 fiscal 2025 reports.

item 1.01 item 5.02 item 2.03 item 3.02 item 7.01 item 8.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

Steve Urvan

Chief Executive Officer

POWW · Outdoor Holding Co

Filed: May 28, 2025, 7:59 PM ET

New Chief Executive Officer Biographical Information and Arrangements The Settlement Agreement provides that the Board will direct its Compensation Committee to develop a compensation plan for Urvan that contemplates a base salary of $1.00 for the first year of his employment as Chief Executive Officer.

Departed

Jared Smith

Chief Executive Officer

POWW · Outdoor Holding Co

Successor: Steve Urvan
Filed: May 28, 2025, 7:59 PM ET

The information set forth in Item 1.01 regarding the resignation of Mr. Smith and the appointment of Urvan is incorporated by reference into this Item 5.02.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Outdoor Holding Co incurred loan of $12.0 million with Steven F. Urvan at 6.50% per annum maturing 12th anniversary of the Effective Date.

Instrument: loan
Principal: $12.0 million
Counterparty: Steven F. Urvan
Rate: 6.50% per annum
Maturity: 12th anniversary of the Effective Date
Event: incurrence

Exact text from the filing

the Company agreed to issue to Urvan, or his affiliated designee, an unsecured promissory note in a principal amount of $12.0 million (“ Note 1 ”).

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Steve Urvan was appointed as Chief Executive Officer at Outdoor Holding Co.

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

New Chief Executive Officer Biographical Information and Arrangements The Settlement Agreement provides that the Board will direct its Compensation Committee to develop a compensation plan for Urvan that contemplates a base salary of $1.00 for the first year of his employment as Chief Executive Officer.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.9

Jared Smith resigned as Chief Executive Officer at Outdoor Holding Co.

Action: resigned
Role: Chief Executive Officer

Exact text from the filing

The information set forth in Item 1.01 regarding the resignation of Mr. Smith and the appointment of Urvan is incorporated by reference into this Item 5.02.

View on SEC.gov

102 debt financings filed in the last 30 days. Browse all debt financings →

Outdoor Holding Co filing history →

Source: SEC EDGAR

accession 0001641172-25-012690

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