Tuesday, August 22, 2006

Flagg Street Capital Raises Stake in Talk America (TALK) to 9.2%

In a 13D filing on Talk America Holdings, Inc. (Nasdaq: TALK) Flagg Street Capital LLC disclosed a 9.19% stake (2.8 million shares) in the company. This up from the 5.07% stake (1.5 million shares) the firm disclsoed in a May 13G filing.

From the 'Purpose of Transaction' section of the filing:

"As opposed to its investments in securities in other companies in which the Reporting Persons may be discussing their views on such investments with management and other shareholders of the issuers of those securities, but where the Reporting Persons currently have a passive investment intent, the Reporting Persons intend to engage far more actively in communications with one or more directors and/or officers of the Issuer and/or one or more members of the board of directors of the Issuer and may also communicate far more actively with one or more shareholders of the Issuer regarding the Issuer, including, but not limited to its operations, structure, strategic alternatives and potential strategies to maximize shareholder value."


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