Huff increases ownership of FX Real Estate to 13.6%

By Angela McDaniels

Tacoma, Wash., May 23 - FX Real Estate and Entertainment, Inc. investor Willian R. Huff purchased 62,730 shares of the company's stock for $4.81 to $6.33 each.

The purchases were made on the open market between March 13 and May 2, according to a schedule 13D filing with the Securities and Exchange Commission.

Huff also purchased 1.15 million shares for $10.00 each in a rights offering on April 1. Under the rights offering, shareholders could buy one share for every two shares held as of March 6.

In addition, Huff agreed to backstop the rights offering, and he bought 2,659,556 shares for $10.00 each on May 13 under that agreement.

The investor beneficially owns 6,739,542 shares, or 13.6%, of the company's stock.

FX Real Estate and Entertainment is based in New York and is focused on the development of real estate and entertainment-based projects and attractions.

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