Market Overview

Camac Partners, LLC Intends To Submit Two Director Nominations For Impac Mortgage Holdings

Share:

Camac Partners, LLC Intends To Submit Two Director Nominations For Impac Mortgage Holdings

PR Newswire

NEW YORK, Aug. 10, 2018 /PRNewswire/ -- Camac Partners, LLC, the investment manager of Camac Fund, LP, is pleased to announce that it intends to submit two director nominations for the special meeting that will be called of the Series B Preferred shareholders of Impac Mortgage Holdings (NYSE-MKT: IMH) for the purpose of electing two directors.  The special meeting is to be held pursuant to the Articles Supplementary and the Order of the Circuit Court for Baltimore City dated July 16, 2018 in Case No. 24-C-11-008391 (Timm, et al. v. Impac). Camac is a beneficial holder of approximately 1/3 of the preferred Series B stock issued by Impac. In the July 16 ruling, the court determined that the Articles Supplementary governing the preferred Series B remain in full force and effect, and pursuant to Section 6(b) of the Articles, Impac is ordered to hold a special election which in which the Series B shareholders may elect two additional directors.

Camac has nominated Eric Shahinian of Camac Partners, LLC and Michael Cricenti of Magis Capital Partners LLC to serve as the additional directors.

Eric Shahinian is the founder and managing member of the GP of Camac Partners, LLC, an investment management firm based in New York which specializes in long-duration investments, since February 2011. Prior to founding Camac, he was an analyst at Kingstown Capital, an investment firm, from 2009 to 2011. Mr. Shahinian was a director of Khan Resources, Inc. from 2015 to 2017 during which time the company reached a settlement with the government of Mongolia in regards to an arbitration award entered in the company's favor. Mr. Shahinian has a Bachelor of Science from Babson College.

Mr. Michael Cricenti is the Founder and Chief Investment Officer of Magis Capital Partners, a family office based in Dallas, Texas since 2017. From 2009-2016 Michael Cricenti was a Managing Director of Bluestem Asset Management a $1.5B investment firm based in Charlottesville, VA. In that role, Mr. Cricenti sourced, conducted research, and executed on investments in public, private, and partnership securities around the world. Mr. Cricenti has a Bachelor of Science in Business Administration, with a concentration in finance and quantitative methods from Babson College.

Cision View original content:http://www.prnewswire.com/news-releases/camac-partners-llc-intends-to-submit-two-director-nominations-for-impac-mortgage-holdings-300695399.html

SOURCE Camac Partners, LLC

View Comments and Join the Discussion!