Outdoor Holding Regains Nasdaq Compliance

Author: Benzinga Newsdesk | September 02, 2025 04:34pm

Scottsdale, Arizona, Sept. 02, 2025 (GLOBE NEWSWIRE) -- Outdoor Holding Company (NASDAQ:POWW) ("we," "us," "our" or the "Company"), the owner of GunBroker.com, the largest online marketplace for firearms, hunting and related products, today announced that it successfully held its 2025 Annual Meeting of Stockholders (the "Annual Meeting") on August 29, 2025 and, as a result, regained compliance with Nasdaq Listing Rule 5620(a). At the Annual Meeting, stockholders approved all matters presented for a vote by the Company's Board of Directors. 

Chairman and Chief Executive Officer Steve Urvan said, "We are very pleased to regain full compliance with Nasdaq Listing Rule 5620(a). We received a series of deficiency notices starting over 9 months ago, and the board and management team has worked tirelessly to resolve these deficiencies. In the remediation process, we have dramatically improved our internal corporate processes and governance to position the Company for the future. Witha new board of seasoned veterans, we can now focus fully on our mission as a pure-play online marketplace for firearms and outdoor enthusiasts. Our primary mandate will be accelerating growth in our core online business and enhancing long-term stockholder value. I look forward to working with our newly elected board on achieving these goals."

At the Annual Meeting, the Company's stockholders approved the following matters, each of which is described in greater detail in the Company's proxy statement filed with the Securities and Exchange Commission on July 14, 2025:

1. Election of Steve F. Urvan, Christos Tsentas, Wayne Walker, Houman Akhavan, and David Douglas as directors of the Company through the 2026 annual meeting of stockholders.
2. Ratification of Withum Smith & Brown, PC as our independent registered public accounting firm for the fiscal year ending March 31, 2026.
3. Approval of the Outdoor Holding Company 2025 Long-Term Incentive Plan.
4. Approval of the Warrant Share Issuance Proposal.
5. Approval of a Reverse Stock Split of the Common Stock at a ratio in the range of 1-for-5 to 1-for-10, with the exact ratio to be determined at the discretion of the Company's board within one year of the Annual Meeting.
6. Approval, on an advisory basis, of the compensation of the Company's named executive officer compensation.
7. Approval, on an advisory basis, of the frequency of future advisory votes on named executive officer compensation in one-year intervals.
    

Posted In: POWW