Just came across this:
An anonymous representative of AWM Investment reports
Three funds advised by AWM Investment Company Inc. have acquired additional shares of Xebec Adsorption Inc. in open market transactions.
The three funds are the Special Situations Fund III QP LP, the Special Situations Private Equity Fund LP and the Special Situations Cayman Fund LP.
On March 26, 2012, 42,000 shares of Xebec at a price of 15 cents per share were purchased by the funds. The Special Situations Fund III QP LP purchased 29,367 shares, the Special Situations Private Equity Fund LP purchased 3,419 shares and the Special Situations Cayman Fund LP purchased 9,214 shares.
On March 27, 2012, 1,138,500 shares of Xebec were purchased at a price of 16.98 cents by the funds. The Special Situations Fund III QP LP purchased 853,500 shares and the Special Situations Cayman Fund LP purchased 285,000 shares. The above purchases represent approximately 3.0 per cent of the outstanding shares.
Following this purchase, the funds own 11,828,603 shares of Xebec and warrants to purchase 2.5 million shares, representing approximately 34.2 per cent of the outstanding shares assuming the exercise of all warrants held by the funds. The Special Situations Fund III QP LP holds 8,328,232 shares and warrants to purchase 1.75 million shares, the Special Situations Private Equity Fund LP holds 870,085 shares and warrants to purchase 200,000 shares, and the Special Situations Cayman Fund LP holds 2,630,286 shares and warrants to purchase 550,000 shares. The funds own the securities and AWM controls such securities.
