Cadre Holdings Inc. postponed its initial public offering Aug. 5 as the stock sale was expected to reach the market.
Several financial news outlets have been reporting the IPO market has cooled off recently after two months of strong activity. IPO research firm Renaissance Capital said Jacksonville-based Cadre was the sixth company to postpone its stock sale in the past two weeks.
Cadre had filed plans with the Securities and Exchange Commission to sell 7.1 million shares of stock at $16 to $19 each.
Cadre, which does business mainly under the name Safariland, makes safety and survivability products for the law enforcement, first responder and military markets.
The business was formerly part of Jacksonville-based Armor Holdings Inc., which was sold to BAE Systems Inc. for $4.5 billion in 2007.
Former Armor CEO Warren Kanders led an investor group that bought the law enforcement products business back from BAE for $124 million in 2012.
Kanders controls 93% of Cadre’s stock and would have continued to own a majority after the IPO, according to its SEC filings.
Cadre is the third Jacksonville-based company this year to postpone its IPO on the day it was scheduled to reach the market.
Southeastern Grocers Inc., parent of Winn-Dixie and three other supermarket chains, canceled its IPO in January and specialty insurance company Fortegra Group Inc. withdrew its IPO in April. Neither company has filed plans to try to bring an IPO to the market again.
Two Jacksonville area companies successfully completed IPOs this year.
Homebuilder Dream Finders Homes Inc. completed its IPO in January and medical device company Treace Medical Concepts Inc. launched its IPO in April.
Both of those companies saw their stock prices rise after the shares hit the market.