Olin - OLN STOCK NEWS

Olin (NYSE: OLN) has appointed retired U.S. Army General Edward Daly to its Board of Directors, effective March 5, 2025. General Daly, who will serve on the Compensation Committee, brings over 36 years of military service and extensive expertise in defense procurement and logistics.

As the former Commanding General of the U.S. Army Materiel Command, Daly led 190,000 personnel across all 50 states and over 150 countries, managing an annual budget exceeding $50 billion. Since retiring in May 2023, he has founded Virtus 9, a national security-focused startup, and serves as President of Daly Consulting & Logistics.

The West Point graduate and holder of advanced degrees from Gonzaga University and U.S. Army War College is notably the only career Logistics 4-Star General from West Point since its founding in 1802. His appointment aims to provide strategic insight for Olin's growth across its chemical products and ammunition businesses.

Olin (NYSE: OLN) has priced a private offering of $600 million aggregate principal amount of 6.625% senior notes due 2033. The initial offering price is set at 100.000% of the principal amount. The notes will be senior unsecured obligations without subsidiary guarantees.

The offering is expected to close on March 14, 2025. Olin plans to use the proceeds, along with new replacement credit facilities, to: redeem $500 million of 5.125% Senior Notes due 2027, refinance existing revolving credit facility and repay borrowings including those for redeeming 9.500% Senior Notes due 2025, refinance existing term loan facility, and cover related expenses.

The notes are being offered exclusively to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S of the Securities Act.

Olin (NYSE: OLN) has announced plans to offer $600 million in senior notes due 2033. The company intends to use the proceeds, along with new replacement credit facilities, to execute several refinancing transactions including:

• Redeeming $500 million of 5.125% Senior Notes due 2027
• Refinancing existing revolving credit facility and repaying all borrowings
• Redeeming all 9.500% Senior Notes due 2025
• Refinancing existing term loan facility
• Paying related fees and expenses

The senior notes will be offered privately to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S. The notes will be Olin's senior unsecured obligations without subsidiary guarantees.

Olin (NYSE: OLN) announced that its Winchester division, in partnership with U.S. Army organizations, broke ground on a new 6.8mm Ammunition Facility at the Lake City Army Ammunition Plant (LCAAP). The 450,000-square-foot facility, part of the Next Generation Squad Weapons Program, will manufacture all components of 6.8mm ammunition and finished rounds for the U.S. military.

The groundbreaking ceremony was attended by over 100 special guests, including military officials and government representatives. The project will involve 90% of work supported by Kansas City region industries and nearly 50 local businesses in the construction phase, contributing to local economic growth and job creation.

The facility represents a significant advancement in the Army's modernization efforts and continues LCAAP's legacy in ammunition production, which dates back to 1941.

Olin (NYSE: OLN) reported fourth quarter 2024 financial results with net income of $10.7 million ($0.09 per diluted share), down from $52.9 million ($0.43 per diluted share) in Q4 2023. Q4 2024 adjusted EBITDA was $193.4 million, compared to $210.1 million in Q4 2023.

Sales increased to $1,671.3 million from $1,614.6 million year-over-year. For full year 2024, net income was $108.6 million ($0.91 per diluted share), significantly lower than $460.2 million ($3.57 per diluted share) in 2023.

The company expects Q1 2025 adjusted EBITDA between $150-170 million, with challenging conditions continuing. During 2024, Olin repurchased approximately 5% of outstanding shares. The company ended Q4 2024 with $175.6 million in cash and net debt of approximately $2.7 billion.

AMMO Inc. (POWW) has announced the sale of its ammunition manufacturing assets to Olin Winchester for $75 million in cash. The transaction includes the 185,000 square foot production facility and ballistic range in Manitowoc, Wisconsin. The deal, unanimously approved by AMMO's Board of Directors, is expected to close in Q2 2025.

The company will transition to focus exclusively on its profitable GunBroker.com marketplace, the largest online platform for firearms and hunting products. This strategic move aims to streamline operations and strengthen cash flow. The company plans to undergo rebranding and a corporate name change upon closing.

Additionally, AMMO disclosed that a Special Committee investigation regarding certain disclosure and accounting matters for fiscal years 2020-2023 is in its final stages. The company expects to provide updates on historical financial statements in Q1 2025, which were previously deemed unreliable.

Olin (NYSE: OLN) has announced a definitive agreement to acquire AMMO, Inc.'s (NASDAQ: POWW) small caliber ammunition manufacturing assets for $75 million. The acquisition includes AMMO's brass shellcase capabilities and their 185,000 square foot production facility in Manitowoc, Wisconsin, built in 2022.

The assets will be integrated into Olin's Winchester Ammunition business, with expected synergies of $40 million once fully integrated. The acquisition is projected to generate $15-20 million of incremental adjusted EBITDA in the first year. By the third year, Olin expects to have paid less than two times adjusted EBITDA.

The transaction, funded through available liquidity, is expected to close in Q2 2025. The Manitowoc facility will complement Winchester's existing production capabilities, enabling greater specialization and broader participation across high-margin specialty calibers.

Olin (NYSE: OLN) has scheduled its fourth quarter 2024 earnings conference call for Friday, January 31, 2025, at 9:00 a.m. Eastern time. The company will release its financial statements, segment information, and associated slides after market close on Thursday, January 30, 2025.

The conference call will be accessible via toll-free numbers for US and Canadian callers, with an international dial-in option available. A webcast will be available on www.olin.com with one-year replay access. A telephonic replay will be available for 7 days following the call.

Olin operates as a vertically integrated global manufacturer and distributor of chemical products, producing chlorine, caustic soda, vinyls, epoxies, and other chemical products. The company is also a leading U.S. manufacturer of ammunition through its Winchester division.

Olin (NYSE: OLN) hosted its 2024 Investor Day in New York City, where management presented updates on core businesses, long-term strategy, and financial targets. The company announced a significant expansion of its share repurchase authorization to $2.0 billion through a new program.

The new $1.3 billion share repurchase program complements the existing program, which had approximately $0.7 billion remaining authorization as of September 30, 2024. The 2024 Share Repurchase Program has no time limit and provides flexibility in timing and execution method. Management will determine the actual implementation based on market conditions and other factors.