Trigran Investments Sells 1.0 Mln Shares of Scientific Learning Corporation (SCIL)

Douglas T. Granat’s fund Trigran Investments has sold a part of its holding in Scientific Learning Corporation (OTCMKTS:SCIL). According to SEC filings, Trigran sold a total of 1.0 million shares, reducing its position in the company to 5.69 million shares. The securities have been sold in two transactions, the price amounting to $0.15 apiece.

The stake held currently by Trigran amasses 23.2% of Scientific Learning Corporation (OTCMKTS:SCIL)’s common stock. The position also contains 416,184 shares and 401,508 shares held as Warrants, the filing also stated. The fund, together with its affiliates entered into separate purchase agreements with Nantahala Capital Partners, Blackwell Partners, and Silver Creek CS SAV who acted as buyers in the transactions.

With about $210 million in equity portfolio, Trigran Investments focuses on Technology, Healthcare Consumer Goods sectors to generate returns for the investors. The hedge fund has invested more than 10% of its portfolio in N V E Corp (NASDAQ:NVEC) with 444,400 shares worth $22.68 million. Other notable investments by the hedge fund included 2.19 million shares worth $2.56 million in Accelrys Inc (NASDAQ:ACCL) and 524,400 shares in Rentrak Corp (NASDAQ:RENT) worth $17.11 million.

One reason for the renewed interest in the company could be due to a new report by a panel of National Research Council. The report calls for a new vision for science assessments. Scientific Learning is also expected to benefit from better tax trends and improvement in enrollments. These issues are expected to benefit all the constituents in the K-12 sector. Scientific Learning is into providing learning solutions to the K-12 education sector. The company’s products reach children in 40 countries. Currently no other hedge fund tracked by us at Insider Monkey has disclosed its holdings in Scientific Learning Corporation (OTCMKTS:SCIL).

Disclosure: none

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