Nantahala Capital Bought 6.47% Passive Stake in $IFT

Nantahala Capital reported 6.47% passive stake in Imperial Holdings, Inc. (IFT) through its 13G filing on November 2nd. According to the filing, Nantahala Capital now has 1.37 million shares in IFT in its position, while the firm’s previous position in the second quarter is unavailable. IFT initial offered 16.7 million common shares at $10.75 per share on February 7th. The stock plunged 75% on September 28th when Federal agents raided the firm’s Florida offices and investigated its chairman and chief executives about its life-insurance business. Now IFT has lost 81% year to date and is trading at $2.31.

Nantahala Capital is a private Securities Brokerage firm based in New Haven, CT. This firm manages 7 accounts and has about $197 million of assets under management.

Imperial Holdings, Inc. operates as a specialty finance company in the United States It through its subsidiaries provides premium financing for individual life insurance policies issued by insurance companies, and structured settlements. The company was founded in 2006 and is based in Boca Raton, Florida.