Xebec investors AWM funds now hold 34.8%
Three funds advised by AWM Investment Company Inc. have acquired additional shares of Xebec Adsorption Inc. in open market transactions.
AWM advises the Special Situations Fund III QP LP, the Special Situations Cayman Fund LP and the Special Situations Private Equity Fund LP. SSFQP, the Cayman Fund and the Private Equity Fund together will be referred to as the funds.
On April 24, 2012, 54,500 shares of Xebec at a price of 24.79 cents per share were purchased by the funds. SSFQP purchased 38,414 shares, the Cayman Fund purchased 12,144 shares, and the Private Equity Fund purchased 3,942 shares. The above purchases represent approximately 0.1 per cent of the outstanding shares.
Following this purchase, the funds own 12,083,103 shares of Xebec and warrants to purchase 2,500,000 shares, representing approximately 34.8 per cent of the outstanding shares assuming the exercise of all warrants held by the funds. SSFQP holds 8,516,646 shares and warrants to purchase 1.75 million shares, the Cayman Fund holds 2,692,430 shares and warrants to purchase 550,000 shares, and the Private Equity Fund holds 874,027 shares and warrants to purchase 200,000 shares. The funds own the securities, and AWM controls such securities.