05:17 PM EST, 12/30/2024 (MT Newswires) -- CompoSecure ( CMPO ) said late Monday it plans to spin off its newly-formed Resolute Holdings Management unit to accelerate value enhancing acquisitions.

The investment team at CompoSecure ( CMPO ) will move to Resolute after the spin-off, the firm said, adding that it will enter into a management agreement with Resolute.

The spin-off will be on a pro rata basis to shareholders, with Resolute expected to trade under the ticker "RHLD" on Nasdaq following completion, CompoSecure ( CMPO ) said. It expects to complete the spin-off in Q1 of 2025.

Shares of CompoSecure ( CMPO ) were advancing over 8% in extended trading.