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Investor reports 5.3 percent Blue Coat stake

By Associated Press
June 10, 2008 | Comments (0)

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Francisco Partners II LP reported holding a 5.3 percent stake in network security company Blue Coat Systems Inc. in a Securities and Exchange Commission filing on Tuesday.

The investor's stake is based on 1.9 million shares issuable upon conversion of zero coupon senior convertible notes and nearly 200,000 shares issuable upon exercise of warrants.

Last week, Francisco acquired the notes and warrants in a private placement that partially financed Blue Coat's $268 million acquisition of bandwidth managing company Packeteer Inc.

Francisco said it acquired its stake in Sunnyvale, Calif.-based Blue Coat for investment purposes.

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