Moab Capital will not support a sale of Spark Networks at rumored price

By Lisa Kerner

Charlotte, N.C., Jan. 9 - Spark Networks, Inc. investors led by Moab Capital Partners, LLC are concerned about a Jan. 4 New York Times article suggesting a sale of the company for $185 million, or $7 per share.

Moab Capital said the reported price is inadequate and it would not support such a deal, according to a schedule 13D filing with the Securities and Exchange Commission.

The investor cited Spark's strong third-quarter results that included an increase in subscribers on Spark's "most expensive and highest margin site, JDate.com."

The reporting persons own some 1.57 million shares, or 6%, of the Beverly Hills, Calif.-based online personals services provider's outstanding stock.

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