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Harbinger’s interest in Motient now up to 28.5%
By Lisa Kerner
Charlotte, N.C., June 1 – Harbinger Capital Partners Master Fund I, Ltd. and its affiliates upped their stake in Motient Corp. with the purchase of 2,579,300 shares of the company’s common stock priced from $10.35 to $11.78 per share between May 16 and May 29.
An additional 6,197,158 shares were purchased on May 24 for $11.20 per share under a stock purchase agreement.
Harbinger Capital-led investors beneficially own 26,273,198 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 25.3% stake on May 10 and a 19.4% stake in the company on April 19.
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