Cadre tumbles as CEO trims stake

Cadre Holdings

06/06/2023 12:19

** Shares of body armor maker for first responders Cadre
Holdings  CDRE.N  tumbling 14.4% to $18.62 premarket after
overnight secondary offering prices
    ** Co late Mon announced 1.5 mln shares sold by CEO Warren
Kanders at $19, 12.7% discount to last sale
    ** Offering cuts CEO's stake by 4% to ~37.8%, or ~14.2 mln
shares, per SEC prospectus filing
    ** BofA lead bookrunner, joined by Jefferies
    ** Through Mon close, shares up 8% YTD but off 19% over the
past year

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))