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Aastrom Biosciences Inc (ASTM), The Providence Service Corporation (PRSC): Sabby Capital’s & Coliseum Capital’s Latest Moves

In two different filings with the U.S. Securities and Exchange Commission, Sabby Capital, led by Hal Mintz, reported initiating a new position in Aastrom Biosciences Inc (NASDAQ:ASTM), while Coliseum Capital, managed by Christopher Shackelton and Adam Gray, revealed ownership of stock option for The Providence Service Corporation (NASDAQ:PRSC) shares.

Aastrom Biosciences

According to the filing, Sabby Capital owns 1.10 million common shares of Aastrom Biosciences Inc (NASDAQ:ASTM). The stake amasses 5.06 of the class, and is passive by nature.

Aastrom Biosciences Inc (NASDAQ:ASTM) is engaged in development of patient-specific expanded cellular therapies for use in the treatment of patients with severe diseases and conditions. Recently, the company conducted a public offering of 13.73 million shares of its common stock at a price of $2.55 per share.

In its new filing, Coliseum Capital disclosed ownership of stock option for 200,000 shares of The Providence Service Corporation (NASDAQ:PRSC). These securities were received by Christopher Shackelton in connection with his service as a member of the board of directors of the company. Each unit represent the right to receive upon exercise in cash the difference between the closing market price of one share of The Providence Service Corporation’s (NASDAQ:PRSC) common stock, par value $0.01 per share, on the date of the exercise minus $43.81. The units may not be settled for shares of common stock.

The filing showed that, subject to certain restrictions, 66,666 units granted shall be deemed fully vested and exercisable as of the September 11, 2014; 66,666 units shall become fully vested and exercisable on June 30, 2015; and 66,668 units shall become fully vested and exercisable on June 30, 2016.

Arizona-based The Providence Service Corporation (NASDAQ:PRSC) provides and manages government sponsored human services, innovative global employment services and non-emergency transportation services. It has a market cap of $644.6 million.

In its latest 13F filing, Coliseum Capital reported owning 2.32 million shares The Providence Service Corporation (NASDAQ:PRSC). Other hedge funds betting big on the company include Renaissance Technologies, managed by Jim Simons, which holds 939,495 shares, and Cliff Asness’ AQR Capital Management, which owns 112,019 shares of the company.

At the end of July, Coliseum Capital disclosed selling 232,595 shares of Accuride Corporation (NYSE:ACW), taking its stake to 7.35 million shares. The fund sold shares in three transactions at prices between $5.14 and $5.38 apiece.

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