08:47 AM EST, 02/10/2025 (MT Newswires) -- CompoSecure ( CMPO ) said Monday its board has approved the spin-off of its newly formed unit, Resolute Holdings Management.

All CompoSecure ( CMPO ) shareholders as of the record date of Feb. 20 will receive one Resolute share for every 12 CompoSecure ( CMPO ) shares on Feb. 28, CompoSecure ( CMPO ) said.

The company said Resolute shares are expected to trade on Nasdaq under the symbol "RHLD," with "when-issued" trading anticipated to start on or about Feb. 20.

CompoSecure ( CMPO ) also said its board has raised its current share buyback authorization to up to $100 million from $40 million.