Red Mountain Capital Discloses 5.1% Stake in Affirmative Insurance (AFFM)
In a 13D filing on Affirmative Insurance Holdings Inc. (Nasdaq: AFFM), Red Mountain Capital disclosed a 786,497 share (5.1% stake) in the company. The firm noted they have met with management and expect to maintain a dialogue.
From the filing:
"Red Mountain has met with the management of Affirmative and expects to maintain a dialogue with management regarding, among other things, Affirmative’s operations, strategic direction, capital structure and corporate governance and Red Mountain’s expectation that management will pursue appropriate measures to enhance shareholder value. In addition, Red Mountain may communicate with other persons regarding Affirmative, including, without limitation, the board of directors of Affirmative, other shareholders of Affirmative and potential strategic or financing partners."
From the filing:
"Red Mountain has met with the management of Affirmative and expects to maintain a dialogue with management regarding, among other things, Affirmative’s operations, strategic direction, capital structure and corporate governance and Red Mountain’s expectation that management will pursue appropriate measures to enhance shareholder value. In addition, Red Mountain may communicate with other persons regarding Affirmative, including, without limitation, the board of directors of Affirmative, other shareholders of Affirmative and potential strategic or financing partners."
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