CDRE - Cadre slumps 12% on 1.5M shares secondary offering
2023-06-06 04:27:38 ET
- Cadre ( NYSE: CDRE ) prices secondary offering of 1.5M shares at a $19.00 per share.
- All shares are being offered by Kanders SAF, which is a limited liability company wholly-owned by Mr. Warren Kanders, Chairman and the CEO of the company.
- Underwriters have a 30-day option to purchase up to an additional 225K shares.
- The offering is expected to close on or about June 8, 2023.
- Upon completion of the offering, the selling stockholder will beneficially own ~37.8% of the company stock.
- The stock price has dropped about 12% on Monday late hours.
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Cadre slumps 12% on 1.5M shares secondary offering