Discovery Equity Partners sells 381,200 shares of Radyne

By Lisa Kerner

Charlotte, N.C., June 5 - Investors led by Discovery Equity Partners sold 381,200 shares of Radyne Corp. between May 30 and June 4 priced from $11.21 to $11.24 each.

Discovery Equity reported the transactions in a schedule 13D filed with the Securities and Exchange Commission.

The investors beneficially own 1,468,800 shares, or 7.8%, of the Phoenix-based communications products company.

In February, Discovery Equity and its affiliates announced their intention to nominate Daniel J. Donoghue and Michael R. Murphy for election to the company's board of directors at the 2008 annual meeting.

Radyne announced on Feb. 4 it would consider alternatives with the assistance of Needham & Co.

Discover Equity previously demanded to inspect and photocopy books and records of the company for the period from Jan. 1, 2006 through Nov. 6, 2007.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.