Breeze Holdings Acquisition Corp. Announces Definitive Agreement To Merge With TV Ammo, Inc.; Est. Enterprise Value ~$1.2B
TV Ammo, Inc. is an Advanced Technology Manufacturing Company Focused on Revolutionizing the Ammunition Industry Through the Use of Composite Materials
Pro Forma for the Transaction, Combined Company is Expected to Have Approximately $76.8 Million in Cash with an Estimated Enterprise Value of Approximately $1.2 Billion
Expected to be Listed on Nasdaq Capital Market Following Anticipated Transaction Close in First Quarter of 2023
TV Ammo, Inc. Recently Entered into a Landmark Partnership with Bass Pro Shops and Cabela’s (“Bass Pro”)
Conference Call to Discuss the Proposed Transaction Will be Held Today at 8:00 a.m. ET
IRVING, Texas and GARLAND, Texas, Nov. 01, 2022 (GLOBE NEWSWIRE) -- Breeze Holdings Acquisition Corp. (NASDAQ:BREZ) (“Breeze Holdings”), a publicly traded special purpose acquisition company, has entered into a definitive agreement to merge with TV Ammo, Inc. (“True Velocity” or the “Company”), an advanced technology manufacturing company aimed at disrupting the global ammunition industry. Following the closing, Breeze Holdings will be renamed “True Velocity, Inc.”
Developing Advanced Solutions for an Antiquated Global Industry
True Velocity is an advanced technology manufacturing company focused on developing and producing ammunition utilizing cutting-edge composite materials for military, law enforcement and commercial applications. Through its state-of-the-art, composite-cased cartridges, the Company is on a mission to revolutionize the ammunition industry by giving end users unmatched accuracy, repeatability, and reliability.
True Velocity has designed an advanced, lightweight composite-cased cartridge that:
- Results in an approximate 30% weight reduction as compared to traditional brass-cased cartridges;
- Provides exceptional accuracy and consistency;
- Reduces heat transfer to the weapon platform resulting in less wear and tear;
- Provides substantial shipping and logistical cost savings while enhancing strategic and operational benefits;
- Achieves greater safety for users by eliminating heavy metals such as lead from the cartridge case and reduces the likelihood of heat-induced discharge;
- Allows for a significant reduction in production footprint;
- Scales and adapts to all calibers; and
- Drives production advancement to support distributive manufacturing in support of on-demand production and near-end user distribution.
The Company has approximately 300 patents issued and pending surrounding its products, technology, and innovative manufacturing processes.
True Velocity is aiming to disrupt the way ammunition has historically been manufactured through the development of modular, portable production cells, each of which is capable of producing more than 15 million rounds per year on a compact footprint. True Velocity’s advanced manufacturing cells employ best-in-class autonomous production and assembly processes while simultaneously providing and analyzing comprehensive quality control and inspection data.