OT: HRG/HGI another big 'cleanup' action today:
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NEW YORK, Oct. 09, 2015 (GLOBE NEWSWIRE) -- HC2 Holdings, Inc. (“HC2” or the “Company”) (NYSE MKT:HCHC) today announced that one of its shareholders, HGI Funding, LLC (“HGI”), a subsidiary of HRG Group, Inc., had entered into a definitive stock purchase agreement for the sale by HGI to certain purchasers of 4,678,395 shares of the Company common stock to certain purchasers named therein, for an aggregate purchase price of $35,087,962.50, or $7.50 per share.
HC2 will not receive any proceeds from the sale of the shares sold by HGI. The purchasers include Philip A. Falcone, the Chairman, President and Chief Executive Officer of the Company, who is purchasing 540,000 shares. As a result of the private offering, HGI will no longer own any shares of the Company’s common stock
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All posts are strictly my opinion and are not buy or sell recommendations.
