Owl Creek increases ownership of Leap Wireless to 9.1%

By Angela McDaniels

Tacoma, Wash., March 13 - Leap Wireless International, Inc. investors led by Owl Creek I, LP purchased 1,346,100 shares of the company's stock between Feb. 12 and March 12 for $38.92 to $44.81 each.

During the same period, the investors sold 230,800 shares for $37.24 to $42.76 each, according to a schedule 13D filing with the Securities and Exchange Commission.

Following the transactions, Owl Creek's ownership interest in the company is 9.1%. Previously, the investors' stake was 7.5% as of Feb. 7 and 5.24% as of Dec. 19.

The investors beneficially own 6,224,347 shares of the San Diego-based wireless services provider.

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