CLAR - Clarus board approves Thrivent Asset raising stake in firm to up to 9.9%

• Clarus ( NASDAQ: CLAR ) said Tuesday its board approved Thrivent Asset Management raising its stake in the company to up to 9.9%.
• Shares of CLAR rose 5.2% after the announcement.
• Thrivent currently beneficially owns 1.5M CLAR shares, which represents ~4.1% of its outstanding stock.
• The approval is conditioned on Thrivent not increasing its stake to more than 9.9% of CLAR's outstanding stock and and Thrivent increasing its position to over 4.9%, at its discretion, within the next 12 months.
• If Thrivent reduces its stake to below 4.9%, it would need new approval from CLAR's board before seeking to raise its stake again.
• Take a look at CLAR's ownership structure:

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