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Zac Hirzel Boosts Hawaiian Holdings Stake Over 10%, Seeks Board Seat

Zac Hirzel, Hawaiian Holdings: In a new 13D filing with the SEC, Zac Hirzel‘s Hirzel Capital Management, reported ownership of  5.6 million shares of Hawaiian Holdings, Inc. (NASDAQ:HA), which have an aggregate value of $43.25 million, at the current share price of the company. The position increased from 5.06 million shares disclosed in Hirzel’s latest 13F and represents 10.8% of the company. Through the increase, Hirzel strenghtened his position of a major shareholder of Hawaiian Holdings and he wants to be represented on the company’s board of directors.

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Earlier in May, Hirzel in a letter to the Hawaiian Holdings’ board expressed his intention to join the board, stating that his skills “would complement the current strengths of the Board and management team. Also, Hirzel outlined his skills and explained why he considers that he would be a valuable addition to Hawaiian Holdings’ board.

Earlier this summer, Hawaiian Holdings announced about appointing three directors: Bryan Kapeckas as director on revenue analytics, Greg Vaughan as director on business intelligence, and Matthew Chang as director on loyalty marketing; as well as one senior director:  Timothy Liu on international sales – Asia, the company said in several statements.

Check out the letter Hirzel sent to Hawaiian Holdings earlier this year, when he first expressed intention to join Hawaiian Holdings’ board:

Hirzel’s letter to Hawaiian Holdings

Geoffrey Raynor’s Q Investments (Specter Holdings) reported a long positon in Hawaiian Holdings in the latest 13F, disclosing 794,799 shares of the company.

Disclosure: none

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