Endologix investor Elliott Associates drops ownership stake to 7.1%

By Lisa Kerner

Charlotte, N.C., Nov. 25 - Endologix, Inc. investors led by Elliott Associates, LP sold 449,765 shares of the company's stock between Sept. 22 and Nov. 13 priced from $4.09 to $5.80 each, according to a schedule 13D/A filed on Wednesday with the Securities and Exchange Commission.

Elliot beneficially owns 3,438,338 shares, or 7.1%, of the company's outstanding stock.

Endologix recently announced it would not pursue Elliott's Oct. 13 unsolicited indication of interest to acquire 100% of the company's outstanding shares for $2.25 each in cash.

Irvine, Calif.-based Endologix develops minimally invasive treatments for vascular diseases.

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