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.

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.

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