Chap-Cap sells shares of Vitesse Semiconductor

By Lisa Kerner

Charlotte, N.C., April 25 - Vitesse Semiconductor Corp. investors led by Chap-Cap Activist Partners Master Fund, Ltd. sold 3,322,500 shares of the company's stock between March 3 and April 24 priced from $0.65 to $0.80 per share.

With the sale, the investors reduced their stake in Vitesse to 5.8%, from 7% on Dec. 6.

Chap-Cap and its affiliates beneficially own some 13.02 million shares of the Camarillo, Calif., semiconductor solution development company.

It was previously reported that the shareholders had been running a long campaign to encourage change at Vitesse, including campaigning against the board and chief financial officer.

In December, Chap-Cap said in an SEC filing that it no longer believed it needed to seek change or influence control of Vitesse.

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