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Prides Capital drops stake in Valassis Communications to less than 5%
By Angela McDaniels
Tacoma, Wash., July 21 - Valassis Communications Inc. investors led by Prides Capital Partners, LLC sold 670,400 shares of the company's common stock, leaving them with a 4.7% stake in the company.
The shares were sold between June 13 and July 21 for $11.31 to $14.31 each, according to a schedule 13D/A filing with the Securities and Exchange Commission.
The investors beneficially own 2,238,800 shares of the Livonia, Mich.-based marketing company.
Prides Capital held 7.4% of the company's shares on Jan. 22 and 6.1% on June 13.
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