Firsthand Technology Value Fund, Inc. (NASDAQ:SVVC) Files An 8-K Other Events
Item 8.01. Other Events
SVVC) (the Fund) issued a press release announcing that it has
received approximately approximately $13.5 million in cash
proceeds from the sale of Turn to Amobee.
company, was approximately $15.6 million. We expect to receive
additional consideration at a later date and, if certain
conditions are met, the Fund may break even or achieve a
nominal gain on the investment. The closing of the sale of Turn
marks the fourth MA exit for the Fund since the beginning of
2016, following those of Gilt Groupe, Tapad, and Mattson
Technology.
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99.1
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Press Release dated June 1, 2017
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About Firsthand Technology Value Fund, Inc. (NASDAQ:SVVC)
Firsthand Technology Value Fund, Inc. is an externally managed, closed-end, non-diversified management investment company. The Fund’s investment objective is to seek long-term growth of capital, principally by seeking capital gains on its equity and equity-related investments. It invests approximately 80% of its total assets for investment purposes in technology companies. It invests approximately 70% of its assets in privately held companies and public companies. It may invest approximately 30% of the portfolio in opportunistic investments. Its portfolio comprises equity and equity derivative securities of technology and cleantech companies. Its principal focus is to invest in illiquid private technology and cleantech companies and it may also invest in micro-cap publicly traded companies. It invests in industries, such as advanced materials, cloud computing, biofuels and fuel cells, among others. Firsthand Capital Management, Inc. is the Fund’s investment advisor. Firsthand Technology Value Fund, Inc. (NASDAQ:SVVC) Recent Trading Information
Firsthand Technology Value Fund, Inc. (NASDAQ:SVVC) closed its last trading session down -0.13 at 8.43 with 25,701 shares trading hands.
