Serengeti sells 250,000 shares of Shuffle Master

By Lisa Kerner

Charlotte, N.C., Sept. 30 - Investors led by Serengeti Asset Management LP and J.L. Serengeti Management LLC sold 250,000 shares of Shuffle Master, Inc. on Sept. 17 through Sept. 19 at prices from $4.62 to $5.18 each.

The transactions were reported in a schedule 13D/A filing with the Securities and Exchange Commission.

Serengeti and its affiliates beneficially own 4.35 million shares, or 7.8%, of the Las Vegas-based gaming supply company.

In July, the investors reported an 8.7% stake in the company.

Serengeti, in a prior SEC filing, said it expected to engage in further discussions with Shuffle Master's management and some board members regarding the dilutive impact of the company's proposed public offering of common stock on Shuffle Master's existing stockholders.

In the past, Serengeti has recommended that Shuffle Master solicit director nominees from significant stockholders.

© 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.