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Elm Ridge Capital buys 21.1% interest in KapStone Paper
By Lisa Kerner
Charlotte, N.C., Aug. 22 - KapStone Paper and Packaging Corp. investors led by Elm Ridge Capital Management, LLC reported the purchase of 630,000 shares on Aug. 20 for $2.42 per share.
The investors beneficially own 6,380,214 shares, or 21.1%, of KapStone, according to a schedule 13D filed with the Securities and Exchange Commission.
KapStone is a Northbrook Ill.-based producer of kraft paper and converter of inflatable dunnage bags.
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