Highland Capital sells 1,783 Tousa preferreds representing 1.1 million shares

By Jennifer Chiou

New York, Nov. 6 - Highland Capital Management, LP disposed of 1,783 shares of Tousa, Inc.'s 8% series A convertible pay-in-king preferred stock, representing 1,107,453 Tousa shares, according to a Schedule 13D with the Securities and Exchange Commission.

The figure is based on an $1.61 conversion price.

On July 31, Highland Capital affiliates acquired 30,899 shares of the 8% preferreds.

The investor beneficially owns 18,084,472 shares, or 23.3%, of Tousa's outstanding stock.

Tousa, formerly Technical Olympic USA, Inc., is a homebuilder based in Hollywood, Fla.

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