Everlast Worldwide: Burlingame Asset Concerned About Stock Offering

May.22.07 | About: Everlast Worldwide, (EVST)

In a 13D filing after the close Friday on Everlast Worldwide (EVST), 14.3% holder Burlingame Asset Management disclosed discussions with the company's management regarding the Issuer’s intention to issue additional shares of Common Stock. The firm changed their filing status from 13G (passive) to 13D (active).

Burlingame Asset Management said its objective is to be assured that the company has explored and evaluated all financing alternatives, and that significant value will not be unduly transferred from existing shareholders to the shareholders participating in the proposed offering.