Avalon Correctional no longer has an interest in Providence Service

By Lisa Kerner

Charlotte, N.C., July 22 - Avalon Correctional Services, Inc. affiliate 73114 Investments, LLC sold its remaining 2,292,895 shares of Providence Service Corp. on July 16 and July 21.

Each shares was sold for $10.00 or $10.40, according to a schedule 13D/A filed on Wednesday with the Securities and Exchange Commission.

Avalon no longer has a stake in Providence.

In June, Avalon dropped its efforts to seek representation on Providence's board of directors after its nominees, Michael C. Bradley Jr. and retired U.S. Navy captain Brian T. Costello, were not elected.

Tucson-based Providence provides home- and community-based social services to government-sponsored clients under programs such as welfare, juvenile justice, Medicaid and corrections.

Oklahoma City-based Avalon owns and operates private community correctional facilities and correctional programming.

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