Vista Outdoor

History

Alliant Techsystems (ATK), entered the ammunition and outdoor products business in 2001. ATK grew through acquisitions and a large increase in demand for ammunition for police, hunting, and other private uses.

ATK told its regulators in December 2014 that it intended first to merge its defense and satellite businesses with Orbital Sciences, and then spin off its sporting goods and ammunition business as a stand-alone public company to be named Vista Outdoor. Vista Outdoor signed an agreement for a $350 million secured loan with a term of five years and a $400 million revolving line of credit. Proceeds were partially used to pay down debt. ATK and Orbital Sciences filed a joint proxy statement and prospectus describing the share issuance with the Securities and Exchange Commission on December 17, 2014. The same month, the Department of Justice approved to the merger and spinoff.

ATK spun-off Vista Outdoor after merging with Orbital Sciences and became Orbital ATK on February 9, 2015. Anyone holding ATK common stock at the end of the business day on February 2, 2015, received two shares of Vista Outdoor common stock. Eligible shareholders had their brokerage account credited or received a book-entry account statement reflecting their ownership. Vista Outdoor was thus initially 100% owned by ATK shareholders. Vista Outdoor stock traded on a "when-issued" basis from January 29, 2015, to February 9, 2015. It began "regular way" trading on the New York Stock Exchange on February 10, 2015, under the ticker symbol "VSTO." Shareholders were not required to make any payment or take action of any kind. This transaction was conducted on a tax-free basis. U.S. shareholders generally did not have to recognize a gain or loss for federal tax purposes.

On February 25, 2016, BRG Sports announced its acceptance of a $400-million cash and

earn-out deal to sell its "Action Sports" business to Vista Outdoor. Vista gained control of the Bell Sports, Giro, Blackburn, and C-Preme brands.