Hound Partners has 25.88% stake in Avantair

By Lisa Kerner

Charlotte, N.C., Nov. 21 - Hound Partners Offshore Fund, LP bought a total of 100,00 shares of Avantair, Inc.'s series A convertible preferred stock for $100 each on Nov. 13.

The purchase was reported in a schedule 13D filing with the Securities and Exchange Commission.

Each preferred share is convertible into 19.417 shares of Avantair common stock.

Hound Partners, LLC beneficially owns 4,997,148 shares, or 25.88%, of the Clearwater, Fla.-based company.

Avantair sells and manages fractional ownerships of piloted aircraft for personal and business use.

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