An investment company controlled by Patrick Soon-Shiong has bought more than 3 million shares of Jakks Pacific Inc., increasing the Los Angeles billionaire’s stake in the Malibu toymaker from 9 percent to nearly 14 percent.
Soon-Shiong’s California Capital Z LLC bought the shares between Friday and Tuesday at prices that ranged between $10.30 to $10.52 a share, according to a Wednesday filing with the Securities and Exchange Commission.
Soon-Shiong’s West L.A. technology holding company, NantWorks LLC has a joint venture with Jakks to develop and sell toys and other products using NantWorks’ iDream image recognition technology.
California Capital first acquired a small stake in Jakks in August, which by October grew to 9 percent of the outstanding shares, making Soon-Shiong the company’s largest single shareholder.
Jakks shares on Wednesday closed up 39 cents, to 3.7 percent, to $10.94 on the Nasdaq.