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BlueMountain Increases Activist Stake in Eastman Kodak to 20% of Company

Eastman Kodak Company, BlueMountain: In filing with the SEC from a couple of minutes ago, BlueMountain Capital Management managed by Andrew Feldstein and Stephen Siderow, reported increasing its position in Eastman Kodak Company (OTCMKTS:EKDKQ), now holding 20.2% of the company, from 19.2% reported at the beginning of September. BlueMountain disclosed ownership of some 7.88 millioh shares of Eastman Kodak, the value of the position rising to almost $237,800.

Andrew Feldstein and Stephen Siderow

At the beginning of September, Eastman Kodak emerged from Chapter 11 after the court confirmed its plan of reorganization. The restructuring of the company involved the spin-off of Kodak’s Personalized Imaging and Document Imaging businesses to Kodak Pension Plan, a long-standing pension fund of its U.K. subsidiary. Also, Kodak conducted a rights offering gaining over $400 million of new equity investments, the company said in a statement.

Disclosure: none

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