Harbinger continues to build stake in Motient

By Lisa Kerner

Charlotte, N.C., May 30 - Harbinger Capital Partners Master Fund I, Ltd. and its affiliates continued to add to their interest in Motient Corp. with the purchase of 2,549,300 shares of the company's common stock priced from $10.36 to $11.78 per share between May 16 and May 29.

Harbinger Capital-led investors beneficially own 26,225,384 shares, or 28.5%, of the Lincolnshire, Ill., mobile satellite services company, according to a schedule 13D filed with the Securities and Exchange Commission.

The investors reported a 24.9% stake on May 10, a 23.9% stake on May 7, a 23.1% stake on April 27 and a 19.4% stake in the company on April 19.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.