Cadre drops after pricing 4 mln share offering

Cadre Holdings

10/06/2022 13:07

** Cadre Holdings  CDRE.N  shares down 3% at $23.90
premarket after body armor maker prices follow-on
    ** Co late Thurs announced 4 mln shares at $23.50, 4.6%
discount to stock's last sale  urn:newsml:reuters.com:*:nBw271X52a
    ** Offering size increased from 3.5 mln shares; co sold 2.25
mln shares, while existing holders including PE firm Palm Beach
Capital offloaded the balance  urn:newsml:reuters.com:*:nBwbPBJCka
    ** Co to use net proceeds from shares it sold for debt
repayment and general corp purposes
    ** BofA and Jefferies lead bookrunners
    ** This is CRDE's first equity offering since its IPO last
Nov, when co sold 6 mln shares at $13 https://www.sec.gov/Archives/edgar/data/1860543/000110465921135037/tm2115376-33_424b4.htm
 for $78 mln gross raise

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))