Singer buys more shares of Arbinet-thexchange

By Lisa Kerner

Charlotte, N.C., Feb. 18 - Investor Karen Singer upped her stake in Arbinet-thexchange, Inc. to 20.2% with the purchase of 252,584 additional shares of the company's stock.

According to a schedule 13D/A filed with the Securities and Exchange Commission, the shares were acquired between Dec. 22 and Feb. 6 at prices from $1.52 to $1.60 each.

The investor beneficially owns 4,494,192 shares of the New Brunswick, N.J., electronic market operator company.

In December, Singer's affiliate, Singer Children's Management Trust, entered into an amended and restated stock ownership agreement with Arbinet-thexchange.

A committee of disinterested members of Arbinet-thexchange's board of directors approved the trust's purchase of up to 5,141,608 shares (the share limit) of the company's outstanding voting stock as part of the agreement, a prior SEC filing said.

The agreement also prohibits the Singer entities and their affiliates from engaging in any business combination with Arbinet-thexchange for three years from the date the Singer entities exceed the share limit, it was previously reported.

© 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.