Harbinger continues to build stake in Motient

By Lisa Kerner

Charlotte, N.C., May 10 - Harbinger Capital Partners Master Fund I, Ltd. and its affiliates continued add to their interest in Motient Corp. with the purchase of 1,603,144 shares of the company's common stock priced from $9.75 and $11.41 per share between April 27 and May 8. On April 27, Harbinger Capital purchased 5,000 shares of preferred stock priced at $850 per share.

Harbinger Capital-led investors beneficially own 21,371,624 shares, or 24.3%, of the Lincolnshire, Ill., mobile satellite services company, according to a schedule 13D filed with the Securities and Exchange Commission.

The investors reported a 23.9% stake on May 7, a 23.1% stake on April 27 and a 19.4% stake in the company on April 19.

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