Point Blank Solutions shareholder Harbinger Capital cuts stake to less than 5%

By Lisa Kerner

Charlotte, N.C., Dec. 3 - Point Blank Solutions, Inc. shareholder Harbinger Capital Partners Master Fund I, Ltd. sold 2,112,753 shares of the company's stock on Dec. 1 for $0.20 each, according to a schedule 13D/A filed with the Securities and Exchange Commission.

Harbinger reported the sale of 3,624,472 shares on Nov. 26 priced at $0.12 and $0.45 each in a prior SEC filing.

The investors beneficially own approximately 1.8 million shares or 3.5% of Point Blank's outstanding stock.

Point Blank is a Pompano Beach, Fla., producer of body armor systems for law enforcement and the military.

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