Vista Outdoor chairman issues statement regarding Revelyst

Vista Outdoor issued the following statement from the company’s chairman of the board, Michael Callahan: “We are committed to continuing to explore all opportunities to maximize the value of Revelyst, including a potential sale. Since September 15th, we have been in active dialogue with the private equity firm partnered with MNC Capital, separate and apart from MNC, and are committed to considering any offers from interested parties that may deliver greater value to our stockholders. As the Board continues to work fastidiously to maximize the value of Revelyst, it is imperative that Vista Outdoor stockholders vote to approve the transaction with the Czechoslovak Group a.s. (the “CSG Transaction”) to capture the value of The Kinetic Group. Our Board unanimously believes the CSG Transaction provides the most value for stockholders. The CSG Transaction delivers significant cash consideration of $28 per share and one share of Revelyst common stock for each share of Vista Outdoor common stock, providing opportunity for stockholders to participate in the upside of Revelyst and a potential change of control premium. The CSG Transaction to acquire The Kinetic Group for $2.15 billion is ~$250 million higher than the implied valuation of MNC’s last proposal, and includes an investment in Revelyst for $150 million, valuing Revelyst at $2.0 billion. Time is running out – the CSG Transaction can be terminated after October 15th. The Board unanimously recommends all stockholders vote FOR the CSG Transaction to immediately realize the value of The Kinetic Group, while preserving the opportunity to participate in a potential change of control premium for Revelyst. We will continue to do what we have been doing throughout this entire process, which is maximizing value for all stockholders and pursuing all paths to deliver superior value.”