CDRE - Cadre Holdings launches stock offering of 3.5M shares

Cadre Holdings (NYSE:CDRE) announced Tuesday stock offering of total 3.5M shares that includes secondary offering of 1.75M shares by the selling stockholders. In addition, underwriters have been granted an overallotment option to purchase up to an additional 525K shares. Price, size and other terms are yet to be determined. Safety equipment producer - Cadre - said it intends to use the net proceeds to reduce outstanding indebtedness as well as for general corporate purposes. CDRE stock is down 4% in after-hours trading.

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Cadre Holdings launches stock offering of 3.5M shares