CDRE - Cadre announces 1.5M offering of common stock for holders

2023-06-05 17:25:01 ET

• Cadre Holdings ( NYSE: CDRE ) has announced the commencement of a proposed secondary offering of 1.5M shares of common stock offered by Kanders SAF, owned by Mr. Warren Kanders, who is the Chairman of the Co.’s Board of Directors and the CEO of the Co.
• The Selling Stockholder intends to grant the underwriters a 30-day option to purchase up to an additional 225K shares of the Co.’s common stock.
• The Offering consists entirely of shares of common stock to be sold by the Selling Stockholder, and the Co. will not receive any proceeds from the sale of the shares being offered by the Selling Stockholder.
• Upon completion, assuming that the underwriters’ option to purchase additional shares is not exercised, the Selling Stockholder will beneficially own ~37.8% of the Co.’s outstanding common stock.
• CDRE -12.64% after hours to $19.01.

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