Firsthand Technology Value Fund, Inc. (NASDAQ:SVVC) Files An 8-K Other Events
Item 8.01
On January 24, 2020, Firsthand Technology Value Fund, Inc. (the “Fund”) issued a press release today that it has extended the expiration date of its previously announced “modified Dutch auction” tender offer (the “Tender Offer”) to purchase up to $4 million of its common stock at a price per share not less than $6.00 and not greater than $8.00 per share, in $0.10 increments.
The Tender Offer was previously scheduled to expire at 5:00 P.M. Eastern Standard Time on January 30, 2020, and will instead expire at 5:00 P.M. Eastern Standard Time on February 14, 2020, or on such later date to which the Tender Offer is further extended. The Tender Offer is being extended to provide shareholders with sufficient time to consider additional disclosures that were made by the Fund today, and those that may be made by the Fund prior to the expiration of the Tender Offer.
A copy of the Press Release is filed as Exhibit 99.1 to this Form 8-K and is incorporated herein by reference.
| Exhibit No. 99.1 | Press Release of Firsthand Technology Value Fund, Inc. issued on January 24, 2020. entitled "Firsthand Technology Value Fund, Inc. Announces Extension of Tender Offer.” |
Firsthand Technology Value Fund, Inc. Exhibit
EX-99.1 2 fp0049966_ex991.htm News Release Firsthand Technology Value Fund Announces Extension of Tender Offer San Jose,…
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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.