Discovery Equity continues to sell off Radyne shares

By Lisa Kerner

Charlotte, N.C., June 17 - Investors led by Discovery Equity Partners sold 323,621 shares of Radyne Corp., reducing their stake in the company to 4.9% from 6.6%.

The shares were sold between June 11 and June 16 priced from $11.17 to $11.25, according to a schedule 13D filing with the Securities and Exchange Commission.

Between June 5 and June 10, the investors reported the sale of 242,354 shares of Radyne priced from $11.15 to $11.24 each, a prior SEC filing said.

Discovery Equity Partners and its affiliates beneficially own 913,506 shares 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.

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