Atlanta Investor Buys 6% Share in Micropolis

An Atlanta investor has acquired a 6% stake in Micropolis Corp., a Chatsworth-based disk drive manufacturer, by purchasing 910,000 common shares for $6.7 million, the company said.

The investor, Richard C. Perry, president of Perry & Co., an Atlanta insurance company, bought the Micropolis shares for investment, according to documents filed with the Securities and Exchange Commission.

Perry already held a smaller stake in Micropolis, but added to it by purchasing 505,000 shares in the open market between Sept. 22 and Nov. 21 for $6.18 to $9.17 per share, according to SEC documents. Those purchases boosted his stake to 6% of the company.

Micropolis reported a loss of $10.9 million on sales of $70.3 million in the third quarter that ended Sept. 30.