Billionaire Carl Icahn Boosts Stake In Cadus Corporation (KDUS) To Over 60%

Carl Icahn has upped its stake Cadus Corporation (OTCBB:KDUS), a new filing with the U.S. Securities and Exchange Commission showed. Mr. Icahn own 17.82 million shares of Cadus Corporation (OTCBB:KDUS), equal to 67.81% of common stock shares outstanding. The new position is up from 5.26 million shares the fund held previously.

Carl Icahn - Icahn Capital Lp

According to the filing, Mr. Icahn acquired an aggregate of 12.56 million shares at $1.53 per share upon exercise of the basic subscription rights and oversubscription rights in the rights offering conducted by the company.

In a Form 8-K filed June 6, Cadus Corporation (OTCBB:KDUS) reported the results of its rights offering. Pursuant to the rights offering, subscription rights to purchase 13.14 million shares of the company’s common stock were exercised, resulting in gross proceeds of about $20.1 million.

Cadus Corporation (OTCBB:KDUS) is engaged in the business of purchasing individual homes and individual residential lots, renovating or constructing on them, and reselling them.

The aggregate value of Carl Icahn’s equity portfolio as of the end of the first quarter of 2014 was $32.9 billion. According to latest 13F, Mr. Icahn holds a total of 19 positions, out of which he reduced the holding in one company, and raised his exposure to three others. Icahn Enterprises LP (NASDAQ:IEP) is represented as the largest holding, in which Mr. Icahn fund Icahn Capital holds 102.86 million shares. It is followed by Apple Inc. (NASDAQ:AAPL), in which the fund revealed ownership of 7.54 million shares. Another important holding is CVR Energy Inc. (NYSE:CVI), in which Icahn Capita owns 71.20 million shares.

Recently, Carl Icahn disclosed a new position in Family Dollar Stores Inc. (NYSE:FDO), owning around 10.69 million shares, including options to purchase shares.

Disclosure: none

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