01:03 PM EST, 03/08/2024 (MT Newswires) -- Clarus ( CLAR ) said Friday its board has approved requests from Greenhouse Funds and Executive Chairman Warren Kanders along with affiliates to increase their beneficial ownership.

Greenhouse and Kanders, the largest shareholders of Clarus ( CLAR ), can now raise their stakes to up to 15.0% and 26.7%, respectively, the company said. Recent disclosures showed Greenhouse holding about 11.9% and Kanders around 16.7%.

The parties are required to increase their stakes within 12 months, Clarus ( CLAR ) said.

The shares were up more than 22% in recent trading.

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