Cadre Holdings, which provides safety and survivability equipment for first responders, announced terms for its IPO on Thursday.
The Jacksonville, FL-based company now plans to raise $75 million by offering 5.8 million shares at a price range of $12 to $14. The company had previously planned to raise $125 million by offering 7.1 million shares at a price range of $16 to $19, but postponed this past August, before refiling in September. At the midpoint of the new proposed range, Cadre Holdings would command a fully diluted market value of $432 million.
Operating under the segments Safariland and Med-Eng, Cadre Holdings manufactures and distributes equipment for law enforcement, military personnel, bomb squads, competitive shooters, and more. Its products include body armor, explosive ordinance disposal equipment, uniforms, optics, holsters, boots, firearms, ammunition, and crowd control products.
Cadre Holdings was founded in 2012 and booked $438 million in sales for the 12 months ended June 30, 2021. It plans to list on the NYSE under the symbol CDRE. Stifel, Raymond James, B. Riley Securities, and Stephens Inc. are the joint bookrunners on the deal.
