Breeze-Eastern must grant approval for additional equity purchases by investor

By Lisa Kerner

Charlotte, N.C., June 19 - Breeze-Eastern Corp. said investors led by Tinicum Capital Partners II, LP must receive written approval from the company before acquiring additional Breeze-Eastern equity securities under the Internal Revenue Code, according to a schedule 13D filing with the Securities and Exchange Commission.

The acquisition of securities may subject the use of Breeze-Eastern's net operating loss carry forwards to certain limitations under Section 382 of the code.

The reporting persons beneficially own 2,458,184 shares, or 26.5%, of the company's outstanding stock.

Breeze-Eastern, based in Union, N.J., develops lifting equipment for specialty aerospace and defense applications.

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