Unifi Board Member Kenneth Langone Buys $850K in Stock

2/8/19

By Jasmin Herrera, NCBIZNews

A board member of Unifi Inc., a Greensboro-based textile company, has purchased over $850,000 in company stock, according to a Securities and Exchange Commission filing.

Unifi produces polyester and nylon for clients including Nike, Target, and Ford.

On Feb. 6, Kenneth Langone, who is best known for helping fund the start of Home Depot, purchased 20,000 shares at a price range between $20.76 and $21. On Feb. 7, he bought an additional 20,000 shares between $21 and $22, according to a Form 4 filed with the Securities and Exchange Commission.

These transactions brought Langone’s stock ownership to 1.17 million shares worth more than $25.7 million.

Langone also reported indirect ownership of an additional 160,000 shares– 130,000 held by Invemed Associates LLC, of which he is the president and CEO, and the remaining 30,000 owned by his wife.

Unifi Inc. has over 20 subsidiaries, specializing in yarn production and offering yarn made from water bottles and other recycled materials. Their yarn is made into fabric by leading brands including Adidas, Levi Strauss & Co., Under Armour and The North Face.

The company’s shares rose 45 cents, or 2.1 percent, to $21.67 in Friday morning trading.

The form can be found here.

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