RSS CompoSecure To Spin-Off Resolute Holdings Management

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 RSS CompoSecure To Spin-Off Resolute Holdings Management

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CompoSecure Inc. (CMPO) has announced its intention to create and subsequently spin off a new subsidiary, Resolute Holdings Management Inc. In this transaction, CompoSecure's wholly owned subsidiary, CompoSecure Holdings, LLC, will establish a Management Agreement with Resolute Holdings. Under this agreement, CompoSecure Holdings, LLC will provide Resolute Holdings with a quarterly management fee, paid in cash, equivalent to 2.5% of CompoSecure's latest twelve months' Adjusted EBITDA.

Resolute Holdings will handle several critical services for CompoSecure, including overseeing capital allocation strategies, assessing and refining operational practices, and identifying and executing mergers and acquisitions (M&A).

The leadership of Resolute Holdings will include David Cote as Executive Chairman of the Board of Directors and Tom Knott as Chief Executive Officer. The Board of Directors will also feature John Cote, Joseph DeAngelo, Roger Fradin, Paul Galant, Brian Hughes, Mark James, Krishna Mikkilineni, and Jane Thompson.

Upon completion of the spin-off, Resolute Holdings is projected to be listed on Nasdaq with the ticker symbol "RHLD."

The material has been provided by InstaForex Company - www.instaforex.com
 
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