Harbinger continues to build stake in Motient with purchase of more than 1.77 million shares

By Lisa Kerner

Charlotte, N.C., April 24 - Harbinger Capital Partners Master Fund I, Ltd. and its affiliates upped their stake in Motient Corp. with the purchase of 1,776,450 shares of the company's stock priced between $8.05 and $9.81 per share between April 18 and April 20.

Harbinger Capital beneficially owns 18,180,780 shares, or 21.5%, of the Lincolnshire, Ill., mobile satellite services company, according to a schedule 13D filed with the Securities and Exchange Commission.

The investor most recently increased its stake in the company to 19.4% on April 18 with the purchase of 2,399,899 shares of Motient's stock.

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