Fine Capital Raises Stake in RedEnvelope (REDE) to 5.9%
In a 13D filing after the close on RedEnvelope Inc. (Nasdaq: REDE), Fine Capital Partners disclosed a 5.9% stake (560K shares). This is up from the 380K share stake the firm disclosed in their most recent quarterly filing with the SEC.
From the 'Purpose of the Transaction' section of the filing:
The purpose of the acquisition of the shares of Common Stock by the Reporting Persons is for investment, and the purchase of the shares of the Common Stock by the Reporting Persons were made in the ordinary course of business and were not made for acquiring control of the Issuer. Depending on price, availability, market conditions and other factors that may affect their judgment, the Reporting Persons may acquire additional shares or dispose of any or all of their shares. The Reporting Persons do not currently intend to acquire the Issuer or to control the management and policies of the Issuer.
From the 'Purpose of the Transaction' section of the filing:
The purpose of the acquisition of the shares of Common Stock by the Reporting Persons is for investment, and the purchase of the shares of the Common Stock by the Reporting Persons were made in the ordinary course of business and were not made for acquiring control of the Issuer. Depending on price, availability, market conditions and other factors that may affect their judgment, the Reporting Persons may acquire additional shares or dispose of any or all of their shares. The Reporting Persons do not currently intend to acquire the Issuer or to control the management and policies of the Issuer.
posted by Lon at 10:15 AM
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