05:57 PM EDT, 03/13/2024 (MT Newswires) -- Cadre Holdings ( CDRE ) late Wednesday announced the launch of a public offering of its 3,475,000 common shares.

The company will offer 2.2 million shares, with the rest to be offered by Kanders SAF, an entity owned by Cadre Chief Executive and Chairman Warren B. Kanders, the company said.

Cadre said it plans to grant a 30-day overallotment option to the underwriters to acquire up to 521,250 additional shares. It intends to use the net proceeds for general corporate purposes.

The company's shares were down 3% in after-hours activity.

Price: 38.3, Change: -1.19, Percent Change: -3.01