Cadre Holdings Announces Pricing of Secondary Offering of Common Stock
June 05 2023 - 9:51PM
Business Wire
Cadre Holdings, Inc. (NYSE: CDRE) (“Cadre” or “the Company”), a
global leader in the manufacturing and distribution of safety and
survivability equipment for first responders, today announced the
pricing of the previously announced secondary offering of 1,500,000
shares of the Company’s common stock (the “Offering”) at a public
offering price of $19.00 per share. All shares are being offered by
Kanders SAF, LLC (the “Selling Stockholder”), which is a limited
liability company wholly-owned by Mr. Warren Kanders, who is the
Chairman of the Company’s Board of Directors and the Chief
Executive Officer of the Company. The Selling Stockholder has
granted the underwriters a 30-day option to purchase up to an
additional 225,000 shares of the Company’s common stock. The
Offering is expected to close on or about June 8, 2023, subject to
the satisfaction of customary closing conditions.
The Offering consists entirely of shares of common stock to be
sold by the Selling Stockholder, and the Company will not receive
any proceeds from the sale of the shares being offered by the
Selling Stockholder. Upon completion of the offering, assuming that
the underwriters’ option to purchase additional shares is not
exercised, the Selling Stockholder will beneficially own
approximately 37.8% of the Company’s outstanding common stock.
BofA Securities is acting as lead book-running manager for the
Offering. Jefferies is also acting as a bookrunner for the
Offering. B. Riley Securities is acting as a co-manager for the
Offering.
The Company has filed a registration statement on Form S-3
(Registration No. 333-271328) (including a base prospectus), which
has been declared effective by the Securities and Exchange
Commission (“SEC”). The Company has also filed a preliminary
prospectus supplement with the SEC for the Offering. The Offering
will be made only by means of a prospectus supplement and an
accompanying prospectus.
You may get these documents for free by visiting EDGAR on the
SEC website at www.sec.gov. Alternatively, copies of the
preliminary prospectus supplement and accompanying prospectus, as
well as copies of the final prospectus supplement, once available,
may be obtained by contacting: BofA Securities, 201 North Tryon
Street, Charlotte, NC 28255, Mail Code NC1-022-02-25, Attention:
Prospectus Department or by email at
dg.prospectus_requests@bofa.com.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any securities, nor will there be
any sale of these securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Cadre
Headquartered in Jacksonville, Florida, Cadre is a global leader
in the manufacturing and distribution of safety and survivability
products for first responders. Cadre's equipment provides critical
protection to allow users to safely and securely perform their
duties and protect those around them in hazardous or
life-threatening situations. The Company's core products include
body armor, explosive ordnance disposal equipment, and duty gear.
Our highly engineered products are utilized in over 100 countries
by federal, state and local law enforcement, fire and rescue
professionals, explosive ordnance disposal teams, and emergency
medical technicians. Our key brands include Safariland® and
Med-Eng®, amongst others.
Forward-Looking Statements
Except for historical information, certain matters discussed in
this press release may be forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include but are not limited to all
projections and anticipated levels of future performance.
Forward-looking statements involve risks, uncertainties and other
factors that may cause our actual results to differ materially from
those discussed herein. Any number of factors could cause actual
results to differ materially from projections or forward-looking
statements in this press release, including, but not limited to,
those risks and uncertainties more fully described from time to
time in the Company’s public reports filed with the Securities and
Exchange Commission, including under the section titled “Risk
Factors” in the Company’s Annual Report on Form 10-K, and/or
Quarterly Reports on Form 10-Q, as well as in the Company’s Current
Reports on Form 8-K. All forward-looking statements included in
this press release are based upon information available to the
Company as of the date of this press release and speak only as of
the date hereof. We assume no obligation to update any
forward-looking statements to reflect events or circumstances after
the date of this press release.
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version on businesswire.com: https://www.businesswire.com/news/home/20230605005728/en/
Gray Hudkins Cadre Holdings, Inc. 203 550 7148
gray.hudkins@cadre-holdings.com
Investor Relations: The IGB Group Leon Berman / Matt
Berkowitz 212 477 8438 / 212 227 7098 lberman@igbir.com /
mberkowitz@igbir.com
Media Contact: Jonathan Keehner / Andrew Siegel Joele
Frank, Wilkinson Brimmer Katcher 212 355 4449
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