Ideation investor Loeb drops equity stake to 3.33%

By Lisa Kerner

Charlotte, N.C., March 17 - A group of Ideation Acquisition Corp. shareholders led by Loeb Arbitrage Management, LLC sold 126,300 shares of the company's stock between March 9 and March 13 priced at $7.51 and $7.52 each, according to a schedule 13D/A filed on Tuesday with the Securities and Exchange Commission.

Loeb beneficially owns 416,777 shares, or 3.33%, of the Beverly Hills, Calif.-based company which currently does not have significant operations.

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