PAR INVESTMENT PARTNERS LP cashes in on covered calls
Just got this alert - PIP sold the calls on Jan 21 when pps was $8.75 - PAR Capital still owns 3.36M shrs - PIP is a hedge fund managed by PAR Capital, alert system has wrong name, but if you check the SEC filing you'll see the correct one. Weird thing is why were they called with the pps at low $8's end of last week? Dunno how the buyer made money here.
PAR CAPITAL MANAGEMENT INC sold 492,600 Common Stock @ $9.00 per share.
PAR CAPITAL MANAGEMENT INC is a 10% Owner at POZEN INC /NC (POZN). This transaction represents a 6656.7568% change in their holdings.
This transaction became public at 3:55PM today but actually occurred on Saturday.
These shares of common stock were sold in connection with the exercise of call options (obligation to sell) that the reporting persons sold on January 21, 2014. These securities are or were held by PAR Investment Partners, L.P. ("PIP"). PAR Group, L.P. ("PAR Group") is the general partner of PIP. PAR Group disclaims beneficial ownership of the securities except to the extent of the pecuniary interest, if any, in such securities as a result of PAR Group's general partner interest in PIP and contingent right to a performance-based advisory fee. PAR Capital Management, Inc. ("PCM") is the general partner of PAR Group which is the general partner of PIP. PCM disclaims beneficial ownership of the securities except to the extent of the pecuniary interest, if any, in such securities as a result of PCM's general partner interest in PAR Group.