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Globalscape (Nasdaq: GSB) board chairman Thomas Brown sold 3 million shares to 210 Capital LLC. Brown held more than 5.6 million shares in Globalscape in May 2016, making him the largest individual stockholder. Roughly 200,000 shares of common stock was bought from Globalscape board member David Mann — with both deals at $3.88 per share in cash. Then the firm bought 281,507 shares of Globalscape stock on the open market.
Globalscape's stock was trading around $4.19 per share on Jan. 10.
"The buyer has agreed that for a period of one year following the closing of the transaction, it and its affiliates and associates will not engage in any solicitation of proxies or consents with respect to the election or removal of directors," according to the U.S. Securities and Exchange Commission filing.
The Dallas investment company agreed not to increase its ownership stake beyond 20 percent. As of Sept. 30, Wellington Management Co. LP was the largest institutional investor in Globalscape with 9.76 percent. CCI reversing centerline UP
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