Monday, August 28, 2006

The Goldman Sachs Group Changes Filing Status on Inphonic (INPC) to 13D

The Goldman Sachs Group changed its filing status on Inphonic, Inc. (Nasdaq: INPC) from 13G to 13D. The firm disclosed a 13.9% stake (5 million shares) in the company, which is unchanged from the 08/10 13G filing.

From the Purpose of Transaction section of the filing:

"As part of the ongoing evaluation of this investment and investment alternatives, the Filing Persons and their affiliates may consider any or all of the following: (a) the acquisition by any person of additional securities of the Company, or the disposition of securities of the Company; (b) an extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving the Company or any of its subsidiaries; (c) a sale or transfer of a material amount of assets of the Company or any of its subsidiaries; (d) any change in the present board of directors or management of the Company, including any plans or proposals to change the number or term of directors or to fill any existing vacancies on the board of directors; (e) any material change in the present capitalization or dividend policy of the Company; (f) any other material change in the Company's business or corporate structure; (g) changes in the Company's charter or bylaws or other actions which may impede theacquisition of control of the Company by any person; (h) causing a class of securities of the Company to be delisted from a national securities exchange or to cease to be authorized to be quoted in an inter-dealer quotation system of a registered national securities association; (i) causing a class of equity securities of the Company to become eligible for termination of registration pursuant to Section 12(g)(4) of the Securities Exchange Act of 1934, as amended; or (j) any action similar to any of thoseenumerated above."

2 Comments:

Blogger Jason said...

What does changing the 13 status mean?

9:59 PM  
Blogger Lon said...

Just means the filer can take a more active approach with its investment.

A 13G indicates a passive stake. Whereas the 13D indicates an active stance.

9:51 AM  

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