Smith & Wesson, the American manufacturer of firearms, completed the spin-off of its outdoor products and accessories business, American Outdoor Brands, on Aug. 24. As of the following day, American Outdoor is trading on the NASDAQ exchange under a new ticker symbol: AOUT. Each holder of Smith & Wesson common stock, SWBI, is receiving one share of AOUT for every four shares of SWBI. The spin-off qualifies under U.S. law as a tax-free distribution to stockholders. As SGB Media points out, with this spin-off Smith & Wesson completes a reversal of its policy since 2016, when it changed its name to American Outdoor Brands precisely in order to diversify. As we reported in June, the company took a $98.7 million goodwill impairment charge for its Outdoor Products & Accessories division and booked a net loss of $66.1 million for its most recent fourth quarter, ended on April 30. The company’s report on the first quarter of 2021 is due on Sept. 3.
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