Authentidate (ADAT) Buys 547K Shares from Large Shareholder; President, CFO, Directors Also Made a Purchase
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Authentidate Holding Corp. (Nasdaq: ADAT) today announced that the company acquired 547,000 shares of its common stock from a large shareholder at a purchase price of $0.27 per share, representing a moderate discount to the 30-day trailing average closing price on the day, in a private transaction on March 31, 2009.
In addition, Ben Benjamin, President of Authentidate, Bill Marshall, CFO of Authentidate, and certain members of the company's board of directors, purchased an additional 990,000 shares from the same large investor, at a purchase price of $0.275 per share.
In total, the purchases represent approximately 4% of the company's common stock outstanding as of the filing of its most recent 10-Q with the SEC on February 10, 2009.
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