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FiveT Purchases More American Apparel Shares

The Swiss investment fund reported that it had purchased an additional 2 million shares, boosting its stake to 22 million shares.

FIVET ADDS TO HOLDINGS: FiveT Capital Holding AG, the Swiss investment fund which Friday reported that it held a 20 million share, or 11.5 percent, stake in American Apparel Inc., on Monday reported that it had purchased an additional 2 million shares, boosting its stake to 22 million shares, or 12.7 percent of those outstanding. The fund said in its amended filing with the Securities and Exchange Commission that it had on Friday acquired 2 million shares at 50 cents each, representing an additional $1 million investment. American Apparel sold 61 million shares at 50 cents each in a secondary public offering last month. Calls to FiveT seeking comment weren’t returned.

The most recent purchase was made by FiveMore Special Situations Fund, a limited liability company based in the Cayman Islands that is advised by FiveT.