CLARUS CORPORATION


Associated tags: Diamond, Name, Black, CLAR, SALT

Locations: SALT LAKE CITY, UT, US, SALT, NEW YORK, NEW YORK CITY

Clarus Files Lawsuit Against Caption Management LLC, Caption Partners II LP, Caption GP, LLC, William Cooper and Jason Strasser for Recovery of Short-Swing Profits

Retrieved on: 
Monday, March 11, 2024

SALT LAKE CITY, March 11, 2024 (GLOBE NEWSWIRE) -- Clarus Corporation (NASDAQ: CLAR) (“Clarus” and/or the “Company”), a global company focused on the outdoor enthusiast markets, announced today that it has filed a lawsuit in the U.S. District Court for the Southern District of New York against Caption Management LLC, Caption Partners II LP, Caption GP, LLC, William Cooper and Jason Strasser to seek to disgorge profits from transactions in Clarus common stock in violation of Section 16(b) of the Securities Exchange Act of 1934, as amended.

Key Points: 
  • SALT LAKE CITY, March 11, 2024 (GLOBE NEWSWIRE) -- Clarus Corporation (NASDAQ: CLAR) (“Clarus” and/or the “Company”), a global company focused on the outdoor enthusiast markets, announced today that it has filed a lawsuit in the U.S. District Court for the Southern District of New York against Caption Management LLC, Caption Partners II LP, Caption GP, LLC, William Cooper and Jason Strasser to seek to disgorge profits from transactions in Clarus common stock in violation of Section 16(b) of the Securities Exchange Act of 1934, as amended.
  • Section 16(b) requires beneficial owners of more than 10% of an issuer’s securities, among others, to return to the issuer any profits resulting from matching the highest sales price against the lowest purchase price during any six-month period, subject to certain exceptions.
  • A copy of the complaint filed in this lawsuit can be found at the following link: https://www.claruscorp.com/legal-filings.

Clarus Board of Directors Approves Two of Its Top Shareholders to Increase Their Positions up to 15.0% and 26.7% of Shares Outstanding

Retrieved on: 
Friday, March 8, 2024

Greenhouse and Kanders have been permitted to increase their positions to up to 15.0% and 26.7% of the Company’s outstanding shares of common stock, respectively.

Key Points: 
  • Greenhouse and Kanders have been permitted to increase their positions to up to 15.0% and 26.7% of the Company’s outstanding shares of common stock, respectively.
  • Greenhouse has beneficial ownership of 4,538,107 shares of the Company’s common stock, as publicly disclosed by Greenhouse in the Schedule 13G as of December 31, 2023, filed by it with the Securities and Exchange Commission on February 14, 2024, which represents approximately 11.9% of the Company’s outstanding shares of common stock.
  • Kanders has beneficial ownership of 6,525,421 shares of the Company’s common stock, as publicly disclosed by Kanders in the Schedule 13D/A filed with the Securities and Exchange Commission on January 30, 2024, which represents approximately 16.7% of the Company’s outstanding shares of common stock.
  • In the event that Greenhouse or Kanders subsequently reduces their respective beneficial ownership to below 9.9%, they would need to obtain a new approval from the Company’s board of directors before seeking to again increase their respective beneficial ownership to in excess of 9.9% of the Company’s outstanding shares of common stock.

Roger Werner Appointed to Clarus’ Board of Directors

Retrieved on: 
Friday, March 8, 2024

SALT LAKE CITY, March 08, 2024 (GLOBE NEWSWIRE) -- Clarus Corporation (NASDAQ: CLAR) (“Clarus” and/or the “Company”), a global company focused on the outdoor enthusiast markets, announced that the Company’s Board of Directors (the “Board”) appointed Mr. Roger Werner to serve on the Board, effective as of March 8, 2024.

Key Points: 
  • SALT LAKE CITY, March 08, 2024 (GLOBE NEWSWIRE) -- Clarus Corporation (NASDAQ: CLAR) (“Clarus” and/or the “Company”), a global company focused on the outdoor enthusiast markets, announced that the Company’s Board of Directors (the “Board”) appointed Mr. Roger Werner to serve on the Board, effective as of March 8, 2024.
  • With Mr. Werner’s appointment, the Board will be comprised of 6 directors, five of whom are independent.
  • Mr. Werner has over 40 years of executive leadership experience, which includes building some of television’s most successful sports networks.
  • I look forward to collaborating with the Board and management team to help the Company’s long-term vision come to fruition and create enduring shareholder value.”

Clarus Reports Fourth Quarter and Full Year 2023 Results

Retrieved on: 
Thursday, March 7, 2024

SALT LAKE CITY, March 07, 2024 (GLOBE NEWSWIRE) -- Clarus Corporation (NASDAQ: CLAR) (“Clarus” and/or the “Company”), a global company focused on the outdoor enthusiast markets, reported financial results for the fourth quarter and full year ended December 31, 2023.

Key Points: 
  • Selling, general and administrative expenses in the fourth quarter were $30.7 million compared to $29.9 million in the same year‐ago quarter.
  • Capital expenditures in the fourth quarter of 2023 were $1.2 million compared to $2.0 million in the prior year quarter.
  • Free cash flow for the fourth quarter of 2023 was $13.3 million compared to $30.3 million in the prior year quarter.
  • The Company will hold a conference call today at 5:00 p.m. Eastern time to discuss its fourth quarter 2023 results.

Clarus Announces $0.025 Per Share Quarterly Dividend

Retrieved on: 
Tuesday, March 5, 2024

SALT LAKE CITY, March 05, 2024 (GLOBE NEWSWIRE) -- Clarus Corporation (NASDAQ: CLAR) (“Clarus” and/or the “Company”), a global company focused on the outdoor and consumer enthusiast markets, announced that its board of directors has confirmed the Company’s regular quarterly cash dividend of $0.025 per share.

Key Points: 
  • SALT LAKE CITY, March 05, 2024 (GLOBE NEWSWIRE) -- Clarus Corporation (NASDAQ: CLAR) (“Clarus” and/or the “Company”), a global company focused on the outdoor and consumer enthusiast markets, announced that its board of directors has confirmed the Company’s regular quarterly cash dividend of $0.025 per share.
  • The cash dividend will be paid on March 28, 2024, to all stockholders of record as of March 18, 2024.

Clarus Completes Sale of Precision Sport Segment to JDH Capital

Retrieved on: 
Thursday, February 29, 2024

SALT LAKE CITY, Feb. 29, 2024 (GLOBE NEWSWIRE) -- Clarus Corporation (NASDAQ: CLAR) (“Clarus” and/or the “Company”), a global company focused on the outdoor and consumer enthusiast markets, today announced that it has completed the sale of its Precision Sport segment, which is comprised of Sierra Bullets, L.L.C.

Key Points: 
  • SALT LAKE CITY, Feb. 29, 2024 (GLOBE NEWSWIRE) -- Clarus Corporation (NASDAQ: CLAR) (“Clarus” and/or the “Company”), a global company focused on the outdoor and consumer enthusiast markets, today announced that it has completed the sale of its Precision Sport segment, which is comprised of Sierra Bullets, L.L.C.
  • and Barnes Bullets – Mona, LLC, to Bullseye Acquisitions, LLC, an affiliate of JDH Capital Company.
  • The Company sold its Precision Sport segment for approximately $175 million and used a portion of the proceeds to retire in full all of the Company’s outstanding debt as of February 29, 2024.
  • For those unable to attend the Investor Day, a replay will be made available after the event.

Clarus Announces Fourth Quarter and Full Year 2023 Conference Call and Upcoming Investor Day

Retrieved on: 
Wednesday, February 7, 2024

SALT LAKE CITY, Feb. 07, 2024 (GLOBE NEWSWIRE) -- Clarus Corporation (NASDAQ: CLAR) (“Clarus” and/or the “Company”), a global company focused on the outdoor and consumer enthusiast markets, will hold a conference call on Thursday, March 7, 2024, at 5:00 pm ET to discuss its financial results for the fourth quarter and full year ended December 31, 2023. The financial results will be reported in a press release after the close of regular stock market trading hours on the same day as the conference call.

Key Points: 
  • The financial results will be reported in a press release after the close of regular stock market trading hours on the same day as the conference call.
  • The Company will host an investor day on Monday, March 11, 2024, from 12:00 pm to 2:00 pm ET in New York City.
  • The conference call will be broadcast live and available for replay on the Company’s website at www.claruscorp.com .
  • For those unable to attend the Investor Day, a replay will be made available after the event.

Clarus Enters into Definitive Agreement to Sell Precision Sport Segment

Retrieved on: 
Friday, December 29, 2023

SALT LAKE CITY, Dec. 29, 2023 (GLOBE NEWSWIRE) -- Clarus Corporation (NASDAQ: CLAR) (“Clarus” and/or the “Company”), a global company focused on the outdoor and consumer enthusiast markets, today announced that it has entered into a definitive purchase and sale agreement (the “Agreement”) to sell its Precision Sport segment, which is comprised of the Company’s Sierra Bullets, L.L.C.

Key Points: 
  • SALT LAKE CITY, Dec. 29, 2023 (GLOBE NEWSWIRE) -- Clarus Corporation (NASDAQ: CLAR) (“Clarus” and/or the “Company”), a global company focused on the outdoor and consumer enthusiast markets, today announced that it has entered into a definitive purchase and sale agreement (the “Agreement”) to sell its Precision Sport segment, which is comprised of the Company’s Sierra Bullets, L.L.C.
  • The transaction is expected to close in the first quarter of 2024, subject to customary closing conditions, including the receipt of regulatory approvals.
  • “After a comprehensive strategic review process, we are pleased to have agreed on a transaction to sell the Precision Sport segment at an attractive price,” said Nicholas Sokolow, lead independent director of the Board and Chairman of the Special Committee.
  • is acting as legal advisor to the Special Committee and Houlihan Lokey Capital, Inc. is acting as financial advisor to the Special Committee.

Clarus Reports Status of HAP Trading Short-Swing Profit Litigation

Retrieved on: 
Wednesday, December 6, 2023

SALT LAKE CITY, Dec. 06, 2023 (GLOBE NEWSWIRE) -- Clarus Corporation (NASDAQ: CLAR) (“Clarus” and/or the “Company”), a global company focused on the outdoor and consumer enthusiast markets, reported on the status of its claims against HAP Trading, LLC and Mr. Harsh A. Padia (collectively “HAP Trading”).

Key Points: 
  • SALT LAKE CITY, Dec. 06, 2023 (GLOBE NEWSWIRE) -- Clarus Corporation (NASDAQ: CLAR) (“Clarus” and/or the “Company”), a global company focused on the outdoor and consumer enthusiast markets, reported on the status of its claims against HAP Trading, LLC and Mr. Harsh A. Padia (collectively “HAP Trading”).
  • On November 20, 2023, Clarus submitted its expert’s report calculating the recovery that may be available to Clarus from HAP Trading’s purchases and sales of Clarus common stock in violation of Section 16(b) of the Securities Exchange Act of 1934, as amended.
  • Clarus engaged Charles Lundelius, a Managing Director with Berkeley Research Group, LLC (“BRG”) ( https://www.thinkbrg.com/people/charles-lundelius/ ) to conduct a comprehensive review of HAP Trading’s transactions in shares of Clarus’ common stock during the period July 19, 2022 to September 23, 2022.
  • HAP Trading has also submitted expert reports claiming market making and arbitrage exemptions from the requirements of Section 16(b), which Clarus and Lundelius have concluded are not applicable in the current context.

Clarus Reports Third Quarter 2023 Results

Retrieved on: 
Tuesday, November 7, 2023

SALT LAKE CITY, Nov. 07, 2023 (GLOBE NEWSWIRE) -- Clarus Corporation (NASDAQ: CLAR) (“Clarus” and/or the “Company”), a global company focused on the outdoor and consumer enthusiast markets, reported financial results for the third quarter ended September 30, 2023.

Key Points: 
  • SALT LAKE CITY, Nov. 07, 2023 (GLOBE NEWSWIRE) -- Clarus Corporation (NASDAQ: CLAR) (“Clarus” and/or the “Company”), a global company focused on the outdoor and consumer enthusiast markets, reported financial results for the third quarter ended September 30, 2023.
  • Capital expenditures in the third quarter of 2023 were $1.2 million compared to $2.1 million in the prior year quarter.
  • Free cash flow for the third quarter of 2023 improved to $(1.1) million compared to $(13.6) million in the prior year quarter, mainly driven by reductions to inventory.
  • The Company will hold a conference call today at 5:00 p.m. Eastern time to discuss its third quarter 2023 results.