Thursday, May 24, 2007

Sun Capital Doubles Stake in Sharper Image (SHRP)

In an amended 13D filing on Sharper Image (Nasdaq: SHRP), SCSF Equities (Sun Capital) disclosed they raised their stake in the company to 19.8% (2.96M shares). The firm held 1.47 million Sharper Image shares as of the quarter ended March 31, 2007.

The firm disclosed, "Pursuant to a purchase agreement dated May 16, 2007, between SCSF Equities and Richard Thalheimer Revocable Trust Established 3/6/89, SCSF Equities purchased 1,490,000 shares of Common Stock on May 23, 2007 directly from the Thalheimer Trust, at a purchase price of $9.25 per share, in a private transaction that was unanimously approved by the disinterested members of the Issuer’s Board of Directors."

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