Highland continues to invest in ICO Global

By Lisa Kerner

Charlotte, N.C., Jan. 17 - ICO Global Communications (Holdings) Ltd. investors led by Highland Capital Management, LP increased their ownership interest in the company to 20.1% from 18.5% with the purchase of an additional 247,700 shares of the company's stock.

A portion of the shares were purchased on Jan. 11 for $2.64 each, and the remainder were purchased on Jan. 14 for $2.91 each, according to a schedule 13D/A filing with the Securities and Exchange Commission.

In addition, the investors exercised a call option to purchase of 2.2 million shares of ICO priced at $3.60 each on Jan. 14

Highland Capital, through Highland Crusader Offshore Partners, LP, previously entered into a share option transaction with Goldman Sachs & Co. on Dec. 12.

Under the option transaction, Highland Crusader agreed to purchase options for 2.2 million ICO shares at the strike price of $3.60 each.

Highland beneficially owns some 29.15 million shares of the Reston, Va., mobile satellite services company.

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