Who Owns AMMO Company?

Who Owns AMMO, Inc.?

Understanding AMMO, Inc.'s ownership is key to its market strategy. A recent strategic shift significantly impacts its operations and shareholder value.

AMMO, Inc., founded in 2016, initially aimed to innovate the munitions industry. Its evolution includes acquiring GunBroker.com for $240 million in April 2021.

Who owns AMMO, Inc.?

As of July 22, 2025, AMMO, Inc. has a market capitalization of $148 million with 117 million shares outstanding. The company recently sold its ammunition manufacturing assets to Olin Winchester in April 2025, rebranding to Outdoor Holding Company to focus on its e-commerce platform, GunBroker.com. This strategic pivot highlights a shift towards the outdoor lifestyle sector, influencing its AMMO BCG Matrix.

AMMO, Inc. was established in 2016 by Fred Wagenhals and Chris Larson. Fred Wagenhals, a prominent figure with experience in motorsports and manufacturing, has held the positions of Chairman and CEO. While Wagenhals is consistently recognized as a founder, Chris Larson's early involvement as a business partner is noted, though his official public profile and SEC filings are less detailed, potentially linked to an SEC conduct-based injunction from June 2020.

Founding Members

AMMO, Inc. was founded in 2016. Fred Wagenhals is identified as a key founder and has served as Chairman and CEO.

Early Public Offering

The company initially became publicly traded through a reverse merger in March 2017. It later uplisted to the NASDAQ in December 2020.

NASDAQ Listing

In December 2020, AMMO, Inc. uplisted to the NASDAQ. This move was accompanied by a stock offering of 8,564,285 shares at $2.10 per share, raising $18 million.

Acquisition Impact

The acquisition of GunBroker.com in 2021 for $240 million significantly changed the ownership structure. This deal involved exchanging a 17% stake in AMMO, Inc. for the platform.

Founder's Role in Acquisition

Steven Urvan, the founder of GunBroker.com, became a significant shareholder and joined the board of directors following the acquisition. He later initiated a lawsuit in 2023.

Initial Ownership Details

Specific details regarding the initial equity split at the company's inception are not readily available in public records. Early ownership disputes are also not explicitly detailed.

The initial public offering of AMMO, Inc. occurred in March 2017 via a reverse merger with Retrospettiva, Inc., a company previously listed on the OTC market. This transition allowed AMMO to become a publicly traded entity. The company's subsequent uplisting to the NASDAQ in December 2020 marked a significant milestone, facilitated by a concurrent stock offering that raised $18 million through the sale of 8,564,285 shares of common stock at $2.10 per share. This event increased the number of AMMO Inc shareholders and improved its market visibility. The acquisition of GunBroker.com in 2021 for $240 million, which included a 17% stake in AMMO, Inc. for its founder Steven Urvan, substantially reshaped the ownership landscape. This transaction also brought Urvan onto the AMMO Inc board of directors, a move that later led to legal proceedings initiated by Urvan in 2023, alleging he was misled. Understanding the Mission, Vision & Core Values of AMMO can provide context to the company's strategic direction and growth. Information on who controls AMMO Inc stock and the AMMO company structure is often found in the company's financial reports and investor relations materials.

Key Ownership Milestones

The journey of AMMO, Inc. ownership includes its initial public offering, a significant uplisting to the NASDAQ, and a major acquisition that altered its shareholder base.

• Founded in 2016 by Fred Wagenhals and Chris Larson.
• Went public via reverse merger with Retrospettiva, Inc. in March 2017.
• Uplisted to NASDAQ in December 2020 with an $18 million stock offering.
• Acquired GunBroker.com in 2021, incorporating Steven Urvan as a major shareholder and board member.
• Steven Urvan initiated a lawsuit in 2023 regarding the acquisition terms.
• Early ownership details and specific equity splits at inception are not publicly detailed.

The ownership structure of AMMO, Inc. has seen significant shifts, particularly after its 2017 IPO and subsequent uplisting to NASDAQ in December 2020. A pivotal moment was the April 2021 acquisition of GunBroker.com, which integrated it as a wholly-owned subsidiary and brought its founder, Steven Urvan, a substantial stake in the company.

As of January 2025, Steven F. Urvan is a major insider shareholder, holding approximately 24.8% of the common stock with 20,155,000 shares. Fred W. Wagenhals, the founder, held about 9.0% with 7,279,449 shares. Other notable insider shareholders as of January 2025 include Tod Jon Wagenhals (1.2%), Randy Luth (0.7%), Russell William Wallace, Jr. (0.7%), Jared R. Smith (0.5%), and Jessica M. Lockett (0.2%). Institutional investors like BALENTINE LLC and KANEN WEALTH MANAGEMENT LLC increased their holdings in late 2024 and early 2025, while BRIDGEWAY CAPITAL MANAGEMENT, LLC and DIMENSIONAL FUND ADVISORS LP reduced theirs during the same periods. The company's strategic decision in April 2025 to divest its ammunition manufacturing assets to Olin Winchester for $75 million positions it as a pure-play e-commerce platform focused on GunBroker.com, a move that is expected to refine its business structure and capital allocation. This strategic pivot highlights the evolving nature of who controls the AMMO Inc stock and its future direction.

Key Stakeholders and Ownership Trends

Understanding the AMMO company ownership reveals a dynamic landscape with significant insider and institutional influence. The company's recent strategic shifts are reshaping its shareholder base and future trajectory.

• Steven F. Urvan is a primary individual shareholder.
• Institutional ownership has seen an upward trend.
• The sale of manufacturing assets impacts the company's core business.
• The acquisition of GunBroker.com was a transformative event for AMMO Inc.
• Investors can find detailed AMMO Inc financial reports ownership information.

The Board of Directors for Outdoor Holding Company, formerly AMMO, Inc., oversees the company's strategic direction. Key figures include Steven Urvan, who holds a significant ownership stake and serves as Chairman and CEO, and Fred Wagenhals, the company's founder.

Voting power within Outdoor Holding Company is primarily influenced by substantial shareholdings. Steven Urvan, as the largest individual shareholder, wields considerable influence. The company generally operates on a one-share-one-vote principle for its common stock, though specific details on any differential voting rights are not publicly detailed. Past governance discussions, including a 2022 board slate proposal by Urvan and a 2023 lawsuit, highlight periods of internal strategic debate. In October 2024, the company disclosed that prior financial statements were unreliable due to internal control weaknesses, leading to board-approved budget processes and the implementation of a whistleblower hotline in 2024.

AMMO Inc. Ownership and Governance

Understanding who owns AMMO Inc. and its management structure is key for investors. The company's leadership and shareholder influence have evolved, particularly following the acquisition of GunBroker.com.

• Steven Urvan is the largest individual shareholder with approximately 24.8% of common stock as of February 2025.
• Fred Wagenhals is the founder of AMMO, Inc.
• Jared Smith is listed as an insider shareholder and CEO.
• Governance has seen significant changes, including leadership transitions and the implementation of enhanced internal controls.
• For a deeper understanding of the market dynamics, explore the Target Market of AMMO.

Over the last few years, the ownership landscape of AMMO, Inc. has seen significant transformation, culminating in a strategic rebranding and asset divestiture. These changes reflect a deliberate effort to refine the company's focus and enhance its market position.

Steven Urvan, the founder of GunBroker.com and AMMO's largest shareholder, assumed the roles of Chairman and CEO of Outdoor Holding Company in May 2025. This leadership change consolidates control under the marketplace's originator and primary individual investor. The company has actively engaged in share buyback programs, extending an equity buyback plan until February 2025, and had repurchased over 1.9 million shares of common stock by August 2024.

Institutional Ownership Growth

Institutional shareholding increased to 45.95% by May 2025, up from 42.21% in February 2025. Mutual fund holdings also rose to 23.58% in May 2025.

Strategic Focus on E-commerce

The company's strategic pivot emphasizes its e-commerce platform and the outdoor lifestyle market. This aligns with broader industry trends toward digital transformation and specialized niche markets.

Operational Efficiency and Throughput

Public statements indicate a focus on improving product throughput and marginality, particularly in rifle production for fiscal year 2025. This aims to enhance overall operational efficiency.

Marketplace User Growth

The company anticipates continued growth for its e-commerce platform, with new user acquisition averaging between 30,000 and 32,000 per month as of March 2024. This growth is a key driver for the rebranded entity. For more on strategic shifts, see Growth Strategy of AMMO.