Vista Outdoor Inc. - VSTO STOCK NEWS

Vista Outdoor stockholders have approved the sale of The Kinetic Group to Czechoslovak Group (CSG) with approximately 97.89% of votes in favor. Under the transaction terms, stockholders will receive $25.75 in cash and one share of Revelyst common stock for each Vista Outdoor share. The CSG Transaction is set to close on November 27, 2024. Following this, Revelyst will trade on NYSE under 'GEAR'. Subsequently, Strategic Value Partners (SVP) will acquire Revelyst in an all-cash transaction valued at $1.125 billion, offering stockholders approximately $19.25 per share. The SVP Transaction is expected to close by January 2025.

Foresight Sports, a Revelyst brand, has partnered with Volition America to launch a custom edition of the QuadMAX launch monitor. The special edition, priced at $19,999 MSRP, features a patriotic design including the American flag and number 13, symbolizing the flag-folding ceremony. Available from November 11, early purchasers will receive a complimentary Bushnell Golf Tour V5 Patriot Pack rangefinder. The package includes access to over 27 simulated golf courses and various accessories. A portion of proceeds will be donated to the Folds of Honor Foundation, supporting military families through scholarships.

Vista Outdoor (NYSE: VSTO) reported Q2 FY2025 results with sales of $666 million and operating income of $66 million. The company's Revelyst segment posted sales of $315 million with operating income of $21 million, while The Kinetic Group achieved sales of $351 million with operating income of $87 million. The Board has scheduled a Special Meeting for November 25, 2024, for stockholders to vote on the sale of The Kinetic Group to CSG. The combined transactions with CSG and SVP are expected to deliver approximately $45.001 per share to stockholders. Total debt decreased by $45 million to $590 million, with net debt of $553 million.

Vista Outdoor (NYSE: VSTO) has scheduled a special stockholders meeting for November 25, 2024, at 9 a.m. Central Time to vote on the merger with Czechoslovak Group (CSG). The company has received all necessary regulatory approvals for the CSG Transaction, pending stockholder approval and other closing conditions. The Board unanimously recommends voting 'FOR' the merger. Additionally, the previously announced Strategic Value Partners (SVP) acquisition of Revelyst is contingent upon the CSG Transaction's completion and requires no separate stockholder approval.

Vista Outdoor Inc. (NYSE: VSTO) has announced it will release its second-quarter Fiscal 2025 financial results on Wednesday, Nov. 6, after the market closes. The company has decided not to hold a conference call to discuss these results due to two pending merger agreements:

1. A merger agreement with Czechoslovak Group a.s. to acquire The Kinetic Group

2. A merger agreement with Strategic Value Partners to acquire Revelyst

Both of these merger agreements were previously announced on Oct. 4. This decision to forgo the usual conference call is likely due to the ongoing nature of these merger processes and potential limitations on discussing details during this period.

Revelyst, a segment of Vista Outdoor Inc. (NYSE: VSTO), has entered into an agreement with Strategic Value Partners, (SVP) for SVP-managed funds to acquire Revelyst in an all-cash transaction valued at $1.125 billion. The deal is expected to close by January 2025, subject to the completion of the $2.225 billion CSG Transaction and regulatory approvals.

Revelyst, a collective of world-class maker brands in outdoor gear and precision technologies, includes brands such as Foresight Sports, Bushnell Golf, Fox, Bell, Giro, CamelBak, Bushnell, and Simms Fishing. The company operates three platforms: Revelyst Adventure Sports, Revelyst Outdoor Performance, and Revelyst Precision Sports Technology.

The acquisition aims to capitalize on increasing demand for outdoor activities and gear, leveraging Revelyst's market presence to drive long-term growth and profitability. SVP plans to support Revelyst with its full operating resources and network to accelerate the company's success.

Vista Outdoor has entered into a definitive agreement with Strategic Value Partners (SVP) to sell Revelyst for $1.125 billion. This transaction is contingent upon the completion of the CSG Transaction, where Czechoslovak Group (CSG) will acquire The Kinetic Group for an increased price of $2.225 billion. Together, these transactions represent an enterprise value of $3.35 billion for Vista Outdoor and will deliver an estimated $45 per share in cash to stockholders.

The SVP Transaction is expected to close by January 2025, while the CSG Transaction is prepared to close prior to the end of 2024. Vista Outdoor stockholders will receive $25.75 in cash per share and one share of Revelyst common stock for each Vista Outdoor share. SVP will then pay Revelyst stockholders an estimated $19.25 in cash per share of Revelyst common stock.

Foresight Sports, a Revelyst brand specializing in golf enhancement technologies, and Uneekor, a manufacturer of golf simulator technologies, have reached a licensing agreement for Foresight Sports' patents related to portable golf launch monitor screen technology. This agreement allows Uneekor to use Foresight Sports' patented technologies in their products.

Foresight Sports, known for its innovation in portable golf launch monitors since 2010, has been a significant contributor to the industry. Uneekor, primarily focused on stationary overhead-mounted launch monitors, has recently expanded into portable launch monitor technology.

The agreement acknowledges the value of Foresight Sports' patented technologies and enables both companies to continue developing their respective products without changing their methodologies for tracking and ball flight algorithms. This collaboration demonstrates the industry's respect for intellectual property and commitment to technological advancement in golf simulation and analysis.

Czechoslovak Group (CSG) reaffirms its commitment to acquire Vista Outdoor's The Kinetic Group for $2.15 billion and invest $150 million in Revelyst. CSG urges Vista Outdoor stockholders to vote in favor of the transaction at the October 9th special meeting, emphasizing it's the last opportunity before the October 15th termination date. CSG won't agree to further adjournments.

CSG is in dialogue with Vista Outdoor and a private equity firm regarding a potential sale of Revelyst, separate from MNC Capital. However, CSG notes challenges with the private equity firm's latest proposal, which would require unfavorable amendments to CSG's agreement with Vista Outdoor. While discussions continue, CSG cautions that significant obstacles remain.