Phoenix FA to purchase 4.7 million shares in tender offer for Fairchild

By Lisa Kerner

Charlotte, N.C., Dec. 20 - Fairchild Corp. shareholder Phoenix FA Holdings, LLC will use about $11.75 million of working capital to purchase 4.7 million shares of the company's class A common stock acquired in its tender offer ended Dec. 18.

Phoenix has accepted and will promptly pay for all shares of class A common stock tendered at a purchase price of $2.50 per share, according to a schedule 13D filing with the Securities and Exchange Commission.

The reporting persons beneficially own 6.9 million shares, or 30.5%, of the Dulles, Va.-based company's outstanding stock.

Fairchild manufactures and supplies precision fastening systems.

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