Pier 1 investor Lagerinn increases stake to 9.72%

By Angela McDaniels

Seattle, Oct. 9 - Pier 1 Imports, Inc. investor Lagerinn ehf purchased 4,251,800 shares of the company's stock on Oct. 3 to close out an equity swap agreement with Kapthing Bank hf., according to a schedule 13D filing with the Securities and Exchange Commission.

Lagerinn paid a total of $54.8 million for the shares. Of the total amount, $48.1 million reflects the decrease in value of the equity swap shares since the companies entered the equity swap agreement, $6.3 million in interest and $442,862 for fees.

Lagerinn, along with its owner Jakup a Dul Jacobsen, beneficially own 8,594,200 shares, or 9.72%, of the Fort Worth, Texas specialty retailer.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.