Steel Partners reports 14.3% ownership of GenCorp

By Lisa Kerner

Charlotte, N.C., Aug. 9 - Steel Partners II, LP upped its stake in GenCorp Inc. to 14.3% with the purchase of 807,705 shares of the company's stock between Aug. 3 and Aug. 8. The shares were priced between $11.73 and $11.98 each.

Steel Partners owns 8,034,059 shares of the Rancho Cordova, Calif., defense products manufacturer's outstanding stock, according to a schedule 13D filing with the Securities and Exchange Commission.

The investor bought 1,031,300 shares between July 27 and Aug. 2 priced from $11.86 to $12.46 each for a 12.8% stake in GenCorp.

On July 18, the shareholder entered into a purchase trading plan agreement with broker-dealer Mutual Securities, Inc. that allows Steel Partners to buy GenCorp shares in compliance with all applicable laws, including section 10(b) of the Securities Exchange Act of 1934.

As previously reported, Steel Partners had a 9.9% stake in GenCorp at that time. On March 5, Steel Partners reported owning 5,565,054 shares, or 9.2% of GenCorp.

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