X0202 4 2007-11-13 0 0001303849 Avantair, Inc AAIR 0001166432 SONKIN PAUL D 460 PARK AVENUE 12TH FLOOR NEW YORK NY 10022 0 0 1 1 see footnote #1 0001101758 HUMMINGBIRD VALUE FUND LP 460 PARK AVENUE, 12TH FL NEW YORK NY 10022 0 0 1 1 see footnote #1 0001243818 HUMMINGBIRD MICROCAP VALUE FUND LP 460 PARK AVENUE, 12TH FL NEW YORK NY 10022 0 0 1 1 see footnote #1 0001276582 HUMMINGBIRD CONCENTRATED FUND LP 460 PARK AVENUE, 12TH FL NEW YORK NY 10022 0 0 1 1 see footnote #1 0001164073 HUMMINGBIRD MANAGEMENT LLC 460 PARK AVENUE, 12TH FL NEW YORK NY 10022 0 0 1 1 see footnote #1 0001249876 HUMMINGBIRD CAPITAL LLC 460 PARK AVENUE, 12TH FL NEW YORK NY 10022 0 0 1 1 see footnote #1 Series A Convertible Preferred Stock 5.15 2007-11-13 4 P 0 4000 100 A 2007-11-13 Common Stock 77670 4000 D Series A Convertible Preferred Stock 5.15 2007-11-13 4 P 0 4000 100 A 2007-11-13 Common Stock 77670 4000 D Series A Convertible Preffered Stock 5.15 2007-11-13 4 P 0 4000 100 A 2007-11-13 Common Stock 77670 4000 D This Form 4 is filed jointly by Paul D. Sonkin, The Hummingbird Value Fund, L.P. ("HVF"), The Hummingbird Microcap Value Fund, L.P.("Microcap"),The Hummingbird Concentrated Fund, L.P. ("Concentrated"), Hummingbird Capital, LLC, and Hummingbird Management, LLC. Paul D. Sonkin is the Managing Member of (a) Hummingbird Capital, LLC, the general partner of HVF, Microcap, and Concentrated, and (b) Hummingbird Management, LLC, the investment manager to HVF, Microcap, and Concentrated. Accordingly, each of Paul D. Sonkin, Hummingbird Capital, LLC, and Hummingbird Management, LLC may be deemed to beneficially own the securities owned by HVF, Microcap, and Concentrated, reported herein. The Reporting Persons are members of a Section 13(d) group that owns more than 10% of the Issuer's outstanding Common Stock after exercise of warrants and conversion of Preferred Stock. Acquired by The Hummingbird Value Fund, LP. Each share of Series A Convertible Preferred Stock (a) may be redeemed by the Issuer in connection with certain change of control or acquisition transactions, (b)may be redemed by the Issuer following the seventh anniversary of the issuance of the shares of Series A Convertible Preferred Stock, and (c) will be redemmed by the Issuer following the ninth anniversary of the issuance of the shares of Series A Convertible Preferred Stock, upon receipt of the written consent of the holders of a majority of the then oustanding shares of Series A Convertible Preferred Stock. Owned directly by The Hummingbird Value Fund, L.P., and indirectly by Paul D. Sonkin, Hummingbird Capital, LLC, and Hummingbird Management, LLC, each of which disclaims beneficial ownership of the securities owned by The Hummingbird Value Fund, L.P., except to the extent that each such party has an interest, if any, in The Hummingbird Value Fund, L.P. In addition, the Hummingbird Value Fund, L.P. owns 403,375 shares of Common stock and 227,543 warrants exercisable into one share each of Common Stock. Acquired by The Hummingbird Microcap Value Fund, LP. See footnote #3. Owned directly by The Hummingbird Microcap Value Fund, L.P., and indirectly by Paul D. Sonkin, Hummingbird Capital, LLC, and Hummingbird Management, LLC, each of which disclaims beneficial ownership of the securities owned by The Hummingbird Value Microcap Fund, L.P., except to the extent that each such party has an interest, if any, in The Hummingbird Microcap Value Fund, L.P. In additon, The Hummingbird Microcap Value Fund, LP, owns 474,607 shares of Common Stock and 375,250 warrants exercisable into one share each of Common Stock. Acquired by The Hummingbird Concentrated Fund, LP. See footnote #3. Owned directly by The Hummingbird Concentrated Fund, L.P., and indirectly by Paul D. Sonkin, Hummingbird Capital, LLC, and Hummingbird Management, LLC, each of which disclaims beneficial ownership of the securities owned by The Hummingbird Concentrated Fund, L.P., except to the extent that each such party has an interest, if any, in The Hummingbird Concentrated Fund, L.P.In addtion, The Hummingbird Concentrated Fund owns directly 731,399 shares of Common Stock and 570,797 warrants excersiable into one share each of Common Stock. Paul Sonkin 2007-11-26 The Hummingbird Value Fund, LP 2007-11-26 The Hummingbird Microcap Value Fund, LP 2007-11-26 The Hummingbird Concentrated Fund, LP 2007-11-26 Hummingbird Management, LLC 2007-11-26 Hummingbird Capital, LLC 2007-11-26