Harbinger sells off remaining shares of Openwave

By Lisa Kerner

Charlotte, N.C, July 26 - Openwave Systems, Inc. investors led by Harbinger Capital Partners Master Fund I, Ltd. sold all their remaining stock in the company - 8,042,235 shares - between July 6 and July 24, priced from $5.63 to $6.25 per share.

The reporting persons no longer own shares of Openwave stock, according to a schedule 13D filing with the Securities and Exchange Commission. In addition, on July 26, Harbinger dismissed its appeal in the Delaware Supreme Court against Openwave, the filing stated.

As previously reported, the investors' tender offer for shares of Openwave's common stock expired on June 21 after only 40%, or 27,980,640 shares, were tendered.

Harbinger would not take up the shares tendered and did not extend the offer.

On June 7, Harbinger and its subsidiary Oreo Acquisition Co., LLC reduced the per-share offer price for Openwave by $1.20, the amount of the company's dividend declared on June 4, to $7.10. The original purchase price for the Redwood City, Calif., software company under the May 22 offer was $8.30 per share.

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