Outdoor Holding settles litigation; appoints Urvan CEO/Chairman, issues $51M notes and warrants

Outdoor Holding Co

Settlement with Urvan: $12M Note 1 + $39M Note 2 (unsecured) plus warrants for 7M shares (Warrant) and option for 13M more (Additional Warrant).
Jared Smith resigns as CEO and director; Steven Urvan appointed CEO and Chairman of the Board effective May 21, 2025.
Legacy directors (Childress, Smith, Wagenhals, Wallace) enter 3-year standstill and agree to vote with Board recommendations.
All litigation dismissed with prejudice; parties deny any wrongdoing or liability.
Urvan's base salary set at $1 for first year; Compensation Committee to develop bonus and equity plan with Board-approved benchmarks.

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