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Steel Partners II owns 75% of WHX Corp.
By Lisa Kerner
Charlotte, N.C., Sept. 29 - WHX Corp. investor Steel Partners II, LP bought 86,309,098 shares at $1.40 per share on Sept. 25, according to a schedule 13D filed with Securities and Exchange Commission. The purchase raised its stake in the company to 75%.
The purchase follows Steel Partners II's exercise of its basic and over-subscription privileges in connection with WHX's subscription rights offering.
Steel Partners II affiliate EMH Howard, LLC acquired 71,425 shares at a price of $1.40 per share following the exercise of its basic subscription privilege in connection with the rights offering.
The investors beneficially own approximately 91.33 shares, or 75.0% of the White Plains, N.Y., precious metals fabricator.
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