Elliott Associates owns 10.3% of Epicor following share purchase

By Lisa Kerner

Charlotte, N.C., March 6 - Epicor Software Corp. investor Elliott Associates, LP bought 1,308,300 shares of the company's stock raising its beneficial ownership interest to 10.3%.

The shares were acquired between Feb. 25 and March 5 at prices from $2.70 to $2.90 each, it was reported in a schedule 13D/A filed with the Securities and Exchange Commission on Friday.

Elliott owns 6,362,604 shares of the Irvine, Calif.-based company's outstanding stock.

In February, Epicor announced that it agreed to increase the size of its board of directors to seven from five members and appoint Richard H. Pickup and John Dillon to fill the new vacancies under its standstill agreement with Elliott.

As previously reported, the agreement allows Elliot to acquire up to $100 million total principal amount of convertible bonds and 14.99% of the company's common stock.

Epicor designs, develops, markets and supports enterprise application software products.

© 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.