Resolute Holdings To Acquire 49.3M Of The Corresponding Class A Shares Of CompoSecure With $372M Personal Investment Via David Cote Family; David Cote To Become Executive Chairman
Portfolio Pulse from Benzinga Newsdesk
Resolute Holdings, led by David Cote, will acquire a majority interest in CompoSecure (NASDAQ: CMPO) by purchasing 49.3 million Class A shares for $372 million. David Cote will become the Executive Chairman, and the transaction will simplify the corporate structure by eliminating the dual-class share system.
August 07, 2024 | 8:03 pm
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Resolute Holdings will acquire a majority interest in CompoSecure by purchasing 49.3 million Class A shares for $372 million. David Cote will become Executive Chairman, and the transaction will simplify the corporate structure by eliminating the dual-class share system.
The acquisition by Resolute Holdings and the appointment of David Cote as Executive Chairman are likely to be viewed positively by investors. The simplification of the corporate structure and elimination of the dual-class share system should enhance shareholder value and improve cash flow.
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