Harbinger acquires more shares of SkyTerra in escrow agreement

By Lisa Kerner

Charlotte, N.C., Feb. 5 - SkyTerra Communications Inc. investors led by Harbinger Capital Partners Master Fund I, Ltd. and affiliates acquired 168,778 additional shares of SkyTerra through an escrow agreement, according to a 13D/A filing with the Securities and Exchange Commission.

The company said that 104,950 of the additional shares were purchased on Feb. 3 at an average price per share of $3.47 while 58,828 of the shares were bought on Feb. 4 at an average of $3.97 per share.

Harbinger and affiliates acquired 433,946 shares on Jan. 30 at an average price per share of $3.33 and bought 75,000 shares on Feb. 2 at an average price of $3.23 per share, a prior SEC filing said.

It was previously reported that Harbinger is limited in the number of SkyTerra shares it may acquire pending the Federal Communications Commission's approval of Harbinger's application seeking authority to own up to 100% of the issued and outstanding stock of SkyTerra.

Harbinger and affiliates hold a 63.8% stake in SkyTerra.

SkyTerra is a Reston, Va.-based provider of mobile wireless voice and data services primarily for public safety, security, fleet management and asset tracking in the United States and Canada.

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