This press release relates to a proposed business combination transaction involving Breeze Holdings and True Velocity.
The transaction is expected to close in the second half of 2023, subject to the satisfaction of customary closing conditions, including certain regulatory and shareholder approvals.īreeze Holdings is a blank check company organized for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or other similar business combinations with one or more businesses or entities.Īdditional Information and Where to Find It Upon closing of the transaction, Breeze Holdings will be renamed “True Velocity, Inc.” and its common stock is expected to trade on the Nasdaq Capital Market. (“Breeze Holdings”) (NASDAQ: BREZ), a publicly traded special purpose acquisition company, pursuant to which a newly formed wholly owned subsidiary of Breeze Holdings will merge with and into True Velocity, with True Velocity surviving as a wholly owned subsidiary of Breeze Holdings. (“True Velocity”) entered into a business combination agreement with Breeze Holdings Acquisition Corp.
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True Velocity’s proprietary composite cartridge is designed to provide significant logistical advantages over traditional brass-cased ammunition and give end users unmatched accuracy, repeatability, and reliability, all in a light-weight cartridge.Īs previously announced on November 1, 2022, TV Ammo, Inc. in a state-of-the-art, 66,000-square-foot facility. True Velocity products are manufactured in the U.S. True Velocity is focused on revolutionizing the ammunition industry through the use of composite materials. Founded in 2010, True Velocity has approximately 300 patents pending or issued surrounding its products, technology and manufacturing processes. True Velocity is an advanced technology and composite manufacturing company based in Garland, Texas. The company expects additional new caliber introductions over the next year.Ībout True Velocity and its Proposed Business Combination with Breeze Holdings True Velocity’s introduction of a composite-cased 5.56x45mm product expands the company’s commercial line of ammunition, which was initially launched in multiple configurations of. I’m confident they will see very quickly what makes our ammunition superior.” “We’re extremely excited to make True Velocity’s composite case technology available to the shooters who rely on this caliber. “There are hundreds of millions of rounds of 5.56 ammo consumed in this country every year,” said True Velocity Chairman and Co-CEO Kevin Boscamp. The 5.56 line of products will be the first to be produced with True Velocity’s Generation 3 advanced manufacturing technology, offering a level of process control, precision and automation that is unprecedented in the ammunition industry. True Velocity’s composite-cased ammunition is designed to offer extensive advantages over traditional brass-cased ammunition, including exceptional dimensional consistency, significantly enhanced accuracy, reduced heat transfer, and an approximate 30 percent reduction in weight over traditional brass-cased cartridges. True Velocity will initially offer the 5.56 cartridge in the following three configurations, with additional options forthcoming:
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commercial market.īeginning in July 2023, True Velocity’s 5.56 round will be available for purchase at Bass Pro Shops and Cabela’s retail locations nationwide, as well as online at and.
(“True Velocity”) announced today the launch of its composite-cased 5.56x45mm cartridge, making the company’s advanced, lightweight ammunition available in the most widely consumed caliber in the U.S. GARLAND, Texas, J(GLOBE NEWSWIRE) - Texas-based ammunition manufacturer TV Ammo, Inc.
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