Thursday, May 24, 2007

Knightspoint Partners Raises Stake in Sharper Image (SHRP) to 21.1

In an amended 13D filing on Sharper Image Corp. (Nasdaq: SHRP), Knightspoint Partners disclosed a 21.1% stake in the company. This is up from the 13.7% stake the firm disclosed in a past filing.

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

"The Reporting Persons may in the future take such actions with respect to their investment in the Issuer as they deem appropriate including, without limitation, seeking additional Board representation, making proposals to the Issuer concerning changes to the capitalization, ownership structure or operations of the Issuer, and, subject to compliance with applicable securities laws, purchasing additional Shares, selling some or all of their Shares, engaging in short selling of or any hedging or similar transaction with respect to the Shares or changing their intention with respect to any and all matters referred to in Item 4."

Earlier today, Sun Capital doubled their stake in Sharper Image to 19.8%

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