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ModusLink Global Solutions, Inc. Message Board

  • spook2b spook2b Aug 25, 2014 6:15 PM Flag

    MLNK takes 10% position in MEDIFAST INC

    They filed a form 13D tonight showing they hold 9.9% or 1,260,925 of the 12,739,149 Medifast shares outstanding

    From the filing:

    Item 4. Purpose of Transaction.

    The Reporting Persons purchased the Shares based on the Reporting Persons’ continuing evaluation of attractive investment opportunities and potential acquisition opportunities and their belief that the Shares, when purchased, were undervalued and represented an attractive investment opportunity. Depending upon overall market conditions, other investment opportunities available to the Reporting Persons, and the availability of Shares at prices that would make the purchase or sale of Shares desirable, the Reporting Persons may endeavor to increase or decrease their position in the Issuer through, among other things, the purchase or sale of Shares on the open market or in private transactions or otherwise, on such terms and at such times as the Reporting Persons may deem advisable.

    Item 5. Interest in Securities of the Issuer.

    The aggregate purchase price of the 1,260,925 Shares owned directly by ModusLink Securities is approximately $35,390,787, including brokerage commissions. The Shares owned directly by ModusLink Securities were acquired with the working capital of ModusLink Securities.

    So, it looks as if the "feeling" that long-time watchers here had was correct. MLNK is making a move...

    Let's see how it plays out...

1.53+0.08(+5.52%)Sep 23 4:00 PMEDT