Robotti buys more than 5 million shares of Levitt

By Angela McDaniels

Seattle, Oct. 12 - Levitt Corp. investors led by Robert E. Robotti purchased 5,101,219 shares of the company's common stock between Aug. 15 and Oct. 9.

Of the total amount, 273,150 shares were purchased on the open market for $2.09 to $2.95 each and 4,828,069 shares were purchased through the company's rights offering at $2.00 per share. The rights offering was for up to 100 million shares of Levitt's class A common stock.

The investors also sold 51,650 shares on Oct. 4 at $3.45 per share. Following the transactions, they beneficially own 5,596,322 shares, or 5.9%, of Levitt's outstanding stock, according to a schedule 13D filing with the Securities and Exchange Commission.

Levitt is a homebuilding and real estate development company based in Fort Lauderdale, Fla.

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