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Bradley Smith shrinks Sparton stake
By Angela McDaniels
Tacoma, Wash., Oct. 10 - Sparton Corp. investor Bradley Smith sold 398,562 shares of the company's stock between Aug. 1 and Oct. 1 for $2.17 to $4.15 each.
The sales were made to satisfy, in part, Smith's personal obligations under a margin loan arrangement, according to a schedule 13D filed with the Securities and Exchange Commission.
Smith beneficially owns 1,820,507 shares, or 18.5%, of the Jackson, Mich.-based company's stock.
Sparton and its subsidiaries provide electronic manufacturing services for government and commercial customers.
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