AMMO, Inc. Announces Closing of $115 Million Public Offering of Common Stock 

SCOTTSDALE, Ariz., March 16, 2021 — AMMO, Inc. (Nasdaq: POWW ) (“AMMO” or the “Company”), a premier American ammunition and munition components manufacturer and technology leader, announced today the closing of its previously announced underwritten public offering of 23 million newly-issued shares of common stock at a price to the public of $5.00 per share (“Offering”). The closing included the full exercise of the underwriters’ over-allotment option to purchase 3 million shares of common stock at the public offering price, for gross proceeds to the Company of $115 million, prior to deducting offering expenses, commissions and underwriting discounts. 

“We are excited to have received such a positive response to AMMO’s strategic vision. The Company plans to continue on the course our team has charted to build a great American ammunition company. With this raise in hand, we intend to proceed with the construction of our expansive new plant and further targeted production capacity increases, while standing poised to react to potential acquisition opportunities that will drive shareholder value,” said AMMO’s Chairman & CEO, Fred Wagenhals. 

Roth Capital Partners and Alexander Capital, L.P., acted as joint bookrunners for the Offering. Lucosky Brookman LLP served as the Company’s legal counsel. Pillsbury Winthrop Shaw Pittman LLP served as Underwriters’ counsel. 

All shares in the Offering were sold by the Company. AMMO intends to use the net proceeds from this Offering for general corporate purposes and working capital purposes, including debt reduction and capital expenditures. In addition, AMMO may use a portion of the proceeds for potential acquisitions. 

The shares of common stock are being offered pursuant to an effective shelf registration statement (333-253192) that AMMO previously filed with the Securities and Exchange Commission (SEC), which became effective on February 24, 2021. A final prospectus supplement relating to, and describing the terms of, the Offering has been filed with the SEC and is available on the SEC’s web site at Copies of the final prospectus supplement and the accompanying prospectus relating to the Offering may also be obtained from Roth Capital Partners, LLC, 888 San Clemente Drive, Newport Beach, California 92660, Attn: Equity Capital Markets, via telephone at (800) 678-9147 or via e-mail at or from Alexander Capital, L.P., 17 State Street, New York, New York 10014, 212-687-5650, 

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. 

Forward Looking Statements 

This document contains certain “forward-looking statements”. All statements other than statements of historical fact are “forward-looking statements” for purposes of federal and state securities laws, including, but not limited to, any projections of earnings, revenue or other financial items; any statements of the plans, strategies, goals and objectives of management for future operations; any statements concerning proposed new products and services or developments thereof; any statements regarding future economic conditions or performance; any statements or belief; and any statements of assumptions underlying any of the foregoing. 

Forward looking statements may include the words “may,” “could,” “estimate,” “intend,” “continue,” “believe,” “expect” or “anticipate” or other similar words, or the negative thereof. These forward-looking statements present our estimates and assumptions only as of the date of this report. Accordingly, readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the dates on which they are made. We do not undertake to update forward-looking statements to reflect the impact of circumstances or events that arise after the dates they are made. You should, however, consult further disclosures and risk factors we include in the final prospectus supplement relating to the Offering, Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Reports filed on Form 8-K. 

Investor Contact:
Rob Wiley, CFO
AMMO, Inc.
Phone: (480) 947-0001