Investor group buys trust preferreds with warrants exercisable for 66,287 Indymac shares

By Angela McDaniels

Tacoma, Wash., Jan. 18 - Indymac Bancorp, Inc. investors led by Howard Amster purchased trust preferred securities with warrants exercisable for 66,287 shares of Indymac common stock, according to a schedule 13D filing with the Securities and Exchange Commission.

The securities were purchased between Nov. 21 and Jan. 17 for $15.63 to $22.02 each, and the 66,287 shares represent 7.4% of the 900,000 shares that underlie the outstanding trust preferred securities and warrants.

Indymac Bancorp is the holding company for IndyMac Bank. The company is located in Pasadena, Calif.

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