Ask yourself this question and then see if you want to sell. Why would C.E. Unterberg Tobin buy out the Qimonda stake and THEN downgrade the stock?
Something fishy is afoot. I assume that CEUT is not done with their accumulation and are trying to drive down the stock some more. Looks to me that a buyout is underway and they are trying to keep the stock price down.
Tom C.
Investors buy out Ramtron's largest shareholder
Qimonda AG last week sold all 4.43 million shares and 262,663 warrants to buy shares in Colorado Springs-based Ramtron International Corp. to a group of 14 institutional and other investors.
The buyers include companies headed by Mordy Schron of New York; Asia Marketing Ltd. of Israel; Courtney Brown of Golden; C.E. Unterberg, Towbin Brett Moskowitz Investments of New York; companies headed by Sean Molloy of New York; Cortina Asset Management of Milwaukee; Ganot Corp. of Hollywood, Fla; Dennis Gates of El Cerrito, Calif.; Graham Partners of New York; partnerships headed by Yoav Roth of New York; Iroquois Master Fund Ltd.; SF Capital Partners Ltd. of St. Francis, Minn.; partnerships headed by Steven Becker and Wolfson Equities of New York.
Qimonda acquired the stake, which amount to a 19 percent stake in Ramtron, from its former parent company, Infineon Technologies AG when it was spun off from Infineon. The shares were acquired in an investment and licensing deal with Ramtron, which is based in Colorado Springs. As a result of the sale, Klaus Fleishmann and Doris Keitel-Schulz, who represented Qimonda on Ramtron's board, resigned as directors. Ramtron spokesman Lee Brown said the company has no immediate plans to replace them.
Ramtron's largest shareholder is now the National Electrical Benefit Fund of New York, which owns 2.55 million shares, or a 10.1 percent stake in the semiconductor development firm. |
