Bill Gates sells more shares of Pacific Ethanol

By Angela McDaniels

Tacoma, Wash., May 22 - Microsoft Corp. chairman Bill Gates, through Cascade Investments, LLC, sold 727,300 shares of Pacific Ethanol, Inc. between May 5 and May 16.

The shares were sold for $3.12 to $3.85 each, according to a schedule 13D filing with the Securities and Exchange Commission.

Cascade Investments owns 1,275,224 shares of Pacific Ethanol's common stock.

When combined with the common stock underlying series A preferred stock owned by Cascade Investments, the investor owns 8,775,224 shares of common stock. This figure represents 17% of the company's common stock, including all shares issuable upon conversion of the series A preferreds.

On May 6, Gates reported the sale of 1,129,726 Pacific Ethanol shares, leaving him an 18.5% ownership interest in the Sacramento-based ethanol provider.

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