Ramius Capital increases activist ownership stake in SeaChange to 7.2%
|April 19th, 2010||
|On April 15th, Peter Cohen’s Ramius Capital Group revealed that it had purchased 400,000 more shares of software and hardware company SeaChange International (NASDAQ: SEAQ), bringing its ownership stake to 2,250,000 shares or 7.2% of shares outstanding. |
Ramius Capital’s nominees include John Buckett and Edward Terino. In a March 30th Schedule 13D filing with the SEC, revealed a 6% position and stated the hedge fund manager’s belief that the shares of the company “were undervalued and represented an attractive investment opportunity.”
Ramius Capital Group is an activist hedge fund management firm founded in 1994 by Peter Cohen. In November 2009, Ramius acquired boutique investment bank Cowen Group Inc. (NASDAQ: COWN) and the firm now operates as the global alternative investment management branch of Cowen Group.
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