(Alliance News) - Lindbergh Spa reported that Sun Mountain Fund LP, a leading institutional investor based in Boston, U.S., has achieved a stake of about 3.9 percent in Lindbergh, holding 328,000 common shares.

Sun Mountain is managed by Christian Solberg and Will Thorndike, author of the book "The Outsiders."

Specifically, after buying some blocks of shares from other institutional investors in late December, Sun Mountain bought 70,000 ordinary shares -- or 0.8 percent of Lindbergh's share capital -- on the market yesterday at a price per share of EUR2.20, for a countervalue of EUR154,000.

The seller was Pinvest Srl, a wholly owned subsidiary of Lindbergh board chairman Marco Pomè, who wanted in this way to facilitate the entry of a major investor for the group's strategic development.

Christian R. Solberg, partner at Sun Mountain, said, "We are thrilled to have become shareholders in Lindbergh. We value Management's expertise and strongly believe in the company's business model, as well as its ability to generate long-term growth and value for all stakeholders."

The transaction was carried out in partial derogation of the lock-up commitment undertaken by Pinvest for 36 months from the date of commencement of trading on Euronext Growth Milan on December 20, 2021, appropriately released limited to this transaction in agreement with Euronext Growth Advisor, Integrae SIM.

Lindbergh's stock is up 12 percent at EUR2.40 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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