Harbinger's stake in Motient up slightly to 23.9% with purchase

By Lisa Kerner

Charlotte, N.C., May 7 - Harbinger Capital Partners Master Fund I, Ltd. and its affiliates continued to build their stake in Motient Corp. with the purchase of 1,254,045 shares of the company's common stock priced from $9.45 and $11.41 per share between April 27 and May 4. On April 27, Harbinger Capital purchased 5,000 shares of preferred stock priced at $850 per share.

Harbinger Capital-led investors beneficially own 21,022,525 shares, or 23.9%, of the Lincolnshire, Ill., mobile satellite services company, according to a schedule 13D filed with the Securities and Exchange Commission.

The investors reported a 23.1% stake on April 27 and a 19.4% stake in the company on April 19.

Harbinger and its affiliates purchased of 1,057,150 shares of the company's common stock priced between $9.80 and $11.75 per share between April 23 and April 26.

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