Cadre Holdings Announces Pricing of Public Primary and Secondary Offering of Common Stock
March 14 2024 - 6:40PM
Business Wire
Cadre Holdings, Inc. (NYSE: CDRE) (“Cadre” or “the Company”), a
global leader in the manufacturing and distribution of safety
equipment for professionals, today announced the pricing of the
public offering of 3,638,127 shares of its common stock, including
2,200,000 shares of common stock offered by the Company and
1,438,127 shares of common stock offered by Kanders SAF, LLC (the
“Selling Stockholder”), an entity wholly-owned by Mr. Warren B.
Kanders, the Chairman of the Company’s Board of Directors and Chief
Executive Officer, at a public offering price of $35.00 per share.
In addition, the Company has granted the underwriters a 30-day
option to purchase up to an additional 545,719 shares of common
stock. The offering is expected to close on or about March 19,
2024, subject to the satisfaction of customary closing
conditions.
Cadre intends to use the net proceeds received from the offering
for general corporate purposes. The Selling Stockholder will
receive the net proceeds from the sale of shares of common stock
sold by it in the offering.
BofA Securities is acting as lead book-running manager for the
offering. Jefferies, B Riley Securities and Stephens Inc. are
acting as book-running managers, and Roth Capital Partners, Lake
Street Capital Markets, LLC and Regions Securities LLC are acting
as co-managers.
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 products. 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,
duty gear and nuclear safety products. 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, including without limitation, our ability to complete
the common stock offering on the proposed terms, or at all; and our
expectations related to the use of proceeds from the shares of
common stock offered by the Company. More information on potential
factors that could affect the Company’s financial results are more
fully described from time to time in the Company’s public reports
filed with the Securities and Exchange Commission, including the
Company’s Annual Report on Form 10-K, Quarterly Reports on Form
10-Q, and 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/20240314025030/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: Jonathan Keehner / Andrew Siegel Joele Frank,
Wilkinson Brimmer Katcher 212 355 4449
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