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ModusLink Global Solutions, Inc. Message Board

  • spook2b spook2b Mar 13, 2013 6:44 PM Flag

    SEC filing by Handy & Harman tonight

    H&H filed an amended 13D with the SEC tonight reflecting the new shares & warrants they acquired yesterday. In toto, the various partners report holding "an aggregate of 16,051,185 Shares, including 2,000,000 Shares underlying currently exercisable Warrants, constituting approximately 29.99% of the Shares outstanding."
    ----------------------
    From this filing, it appears that H&H, Steel, et al. have not yet acquired any of the 1.4M open market shares okayed by the MLNK board. Because of the recent very large block trades in MLNK, I thought it was possible that they had been actively buying, but I guess it's possible that other institutions were behind those trades. Another possibility is that MMs or a 3rd party were accumulating in anticipation of selling a block to them.

    Here's a list of the joint filers and their individual holdings :
    As of the date hereof, HNH owned directly 5,941,170 Shares, constituting approximately 11.5% of the Shares outstanding.

    As of the date hereof, SPHG Holdings owned directly 540,015 Shares, constituting approximately 1.0% of the Shares outstanding. By virtue of their relationship with SPHG Holdings discussed in further detail in Item 2, each of Steel Holdings, SPHG and Steel Holdings GP may be deemed to beneficially own the Shares owned directly by SPHG Holdings.

    As of the date hereof, Steel Holdings owned directly 7,500,000 Shares and beneficially owned an additional 2,000,000 Shares underlying currently exercisable Warrants, constituting approximately 17.8% of the Shares outstanding. By virtue of its relationship with Steel Holdings discussed in further detail in Item 2, Steel Holdings GP may be deemed to beneficially own the Shares, including the Shares underlying the Warrants, owned directly by Steel Holdings.

    As of the date hereof, SPL owned directly 60,000 Shares, constituting less than 1% of the Shares outstanding.

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