Compass Diversified Stock Price, News & Analysis

Compass Diversified (NYSE: CODI) has declared a quarterly cash distribution of $0.25 per share for the period ended December 31, 2021, payable on January 20, 2022. The company, now treated as a corporation for tax purposes, aims to expand its shareholder base. A reduction in the fourth-quarter distribution is attributed to corporate tax liability assumptions. Additionally, the company announced preferred share distributions of $0.453125 for Series A, $0.4921875 for Series B, and $0.4921875 for Series C preferred shares, all payable on January 31, 2022.

Compass Diversified (NYSE: CODI) announced the appointment of Alex Bhathal to its Board of Directors effective January 1, 2022. With over 15 years of asset management experience, Bhathal is the founder of RAJ Capital Management and serves as co-owner of Sacramento Basketball Holdings LLC. His expertise in sports and consumer products is expected to enhance the company's strategic growth efforts. The Board will now consist of nine directors, aiming to leverage their insights for long-term shareholder value.

Compass Diversified (CODI) held its 2021 Virtual Investor Day today at 1:00 PM ET, showcasing its long-term growth strategy and transformation initiatives. CEO Elias Sabo emphasized the goal of achieving $1 billion in EBITDA while exploring opportunities in the high-growth healthcare market. Key presentations included insights from Marucci Sports, a leader in baseball equipment, detailing its competitive advantages and growth strategies. CODI outlined its strong financial position, including lower capital costs and a focus on shareholder value through strategic partnerships.

Compass Diversified (NYSE: CODI) announces a virtual investor day on December 9, 2021, at 1:00 PM ET. The event will feature presentations from CODI's management team and its subsidiary, Marucci Sports, along with Q&A sessions. Interested participants can pre-register and access the live video webcast through the official CODI link. The company emphasizes its strategic role in managing a portfolio of leading middle-market businesses across various sectors, aiming to enhance cash flow generation and value creation for its investors.

Compass Diversified (CODI) announced the successful completion of a $300 million offering of 5.000% senior unsecured notes due 2032. This move significantly enhances CODI's financial flexibility, reducing revolver borrowings by $297 million and leaving approximately $583 million available from its $600 million revolving credit facility. CEO Elias Sabo emphasized that the company is well-positioned for future acquisitions and growth thanks to a stronger balance sheet and extended debt maturities.

Compass Diversified (NYSE: CODI) has announced a pricing of $300 million in 5.000% senior unsecured notes due 2032, set at an issue price of 100%. The net proceeds from this private offering will be utilized to repay a portion of the existing balance under the company's revolving credit facility. The offering is expected to close on November 17, 2021, subject to customary conditions. These notes are not secured by any subsidiaries and will be offered only to qualified institutional buyers under Rule 144A and to non-U.S. Persons under Regulation S.

Compass Diversified (NYSE: CODI) announced plans to offer $300 million in senior unsecured notes due 2032. The proceeds will primarily be used to pay down part of the existing revolving credit facility. The notes will not be guaranteed by any subsidiaries and will be offered only to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S. The offering is subject to market conditions and will not be registered under the Securities Act, thus adhering to specific exemptions.

5.11 ABR Corp., a subsidiary of Compass Diversified (NYSE: CODI), has filed for an initial public offering (IPO) with the SEC, seeking to list on Nasdaq under the ticker symbol 'VXI.' The share price and number of shares offered are yet to be determined. Morgan Stanley, Jefferies, and Baird will serve as lead book-running managers for the offering, with several firms acting as co-managers. The registration statement is currently not effective, meaning no sales can occur until it does. This announcement indicates 5.11's intentions to access public capital for future growth.

Compass Diversified (CODI) announced strong third-quarter results, reporting net sales of $488.2 million and net income of $90.2 million. The company attributes this success mainly to heightened demand for its consumer brands and strategic acquisitions, including Lugano Diamonds for $256 million. Adjusted EBITDA reached $90.0 million, up from $67.6 million year-over-year. CODI also raised its full-year guidance, now projecting 2021 Adjusted EBITDA between $380 million to $390 million. Significant distributions of $0.36 and $0.88 per share were made in October and September 2021, respectively.