Gravity investor Ramius sells remaining 1.36 million ADS for 0% stake

By Lisa Kerner

Charlotte, N.C., Aug. 24 - Ramius Value and Opportunity Master Fund Ltd. sold its remaining 1,358,857 American Depositary Shares of Gravity Co., Ltd. between Aug. 5 and Aug. 21 priced from $1.64 to $2.60 each, according to a schedule 13D/A filed on Monday with the Securities and Exchange Commission.

Each ADS represents one-fourth of a share of Gravity common stock, the filing said.

The investor no longer has an interest in the Seoul, South Korea-based online game developer and distributor.

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