An unknown buyer has entered into a definitive purchase and sale agreement to acquire Sierra Bullets, L.L.C. and Barnes Bullets - Mona, LLC from Clarus Corporation (NasdaqGS:CLAR) for approximately $180 million on December 29, 2023. After Clarus Corporation received multiple offers for the sale of the Precision Sport segment, the Special Committee has unanimously concluded after careful deliberation that this transaction is in the best interest of the Clarus Corporation?s stockholders. The transaction is subject to customary closing conditions, including the receipt of regulatory approvals and is expected to close in the first quarter of 2024.

The Company intends to use the proceeds from the sale to pay down its debt and the remaining funds will be available for general corporate purposes. Kane Kessler, P.C. is acting as legal advisor to Clarus Corporation in the transaction, Richards, Layton & Finger, P.A. is acting as legal advisor to the Special Committee and Houlihan Lokey Capital, Inc. is acting as financial advisor to the Special Committee.