Former Dundee United chairman Stephen Thompson has sold his shareholding in the Championship club, with successor Mike Martin adding to his stake.
Director James Fyffe and two unnamed Dundee businessmen have also acquired some of Thompson's shares.
Martin told United's website: "This share transaction strengthens our current financial position.
"It provides the solid platform required as we continue to progress long-term investment opportunities."
Thompson, who had spent nearly a decade in charge after taking over from his father, Eddie, stood down in March.
He had announced his intention to quit in January, after which Martin acquired a 30% stake in the club.
The independent non-executive director and chairman of Euroclear Bank's risk committee also bought the club's youth training facility.
United added that the two unnamed businessmen acquiring shares "are also life-long Dundee United fans".
The Tannadice club have spent two seasons in Scotland's second tier after 20 in the top flight and finished third last season.