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percent of AIPC’s outstanding common stocko as ofMarch 4. In a March 5 filinfg with the Securities andExchange Commission, Kansas City-basede American Italian Pasta (Nasdaq: AIPC) said that Alvarex & Marsal had exercised a warranf to buy 472,671 AIPC sharea and that Alvarez & Marsal had surrenderedr the right to buy the remaining 85,18o9 shares. AIPC issued the shares to Alvarez & Marsal on Marchg 4 with an exercise priceof $5.67 a share, for a totapl of almost $2.2 million. AIPC’ss stock closed at $32.08 a share on Marchu 4, which makes the shares Alvarez & Marsalk received worth $12.43 million on that date.
AIPC hired Alvare & Marsal in late 2005 to help the pasta-makert restructure. In the past AIPC has settled lingering problems stemming from a scheme by formeer executives to makethe company’d financials look good even as sales fell. The schemer had fallen apart in August drawing lawsuits, pummeling the stock pricew and requiring the company to refil financial statements. , AIPC reported higher earninga and revenue in its fiscalo first quarter compared with theprior
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