BYRN - Byrna Technologies sells legacy 40mm business to Facta Global

• Byrna Technologies ( NASDAQ: BYRN ) said Monday it sold the intellectual property and tooling underlying its legacy 40mm business to Facta Global for an undisclosed amount.
• The amount includes cash and future royalty payments to BYRN on 40mm BIPs (blunt impact projectiles) sold globally.
• BYRN will retain exclusive rights to sell the 40mm BIP in the U.S. and South Africa.
• The BIP will now be produced at Canadian law enforcement training organization Facta Global's manufacturing facility in Canada. For the U.S., final assembly will handled by BYRN.
• BYRN expects to start supplying the 40mm BIP to law enforcement customers in the U.S. as early as Jul.
• The company suspended sales of the 40mm round about a year ago due to production issues at third-party contract manufacturer Micron Products.
• BYRN has been unable to meet demand from legacy 40mm customers since Jul. 2021.

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