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 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 said. It expects to complete the spin-off in Q1 of 2025.
Shares of CompoSecure were advancing over 8% in extended trading.
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