GSV CAPITAL CORP. (NASDAQ:GSVC) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02.
(b)On October 17, 2017, Mark Flynn resigned from his positions as President of GSV Capital Corp. (the “Company”) and as a member of the Board of Directors of the Company (the “Board”), effective October 17, 2017, in connection with a transition in the management of the Company. In connection with Mr. Flynn’s resignation, the Board reduced the number of directors that constitute the full Board to six (6) directors from seven (7) directors. Mr. Flynn will continue to provide services to GSV Asset Management, LLC, the Company’s external investment adviser (the “Adviser”), to a consulting agreement with the Adviser.
(c)In addition, on October 17, 2017, the Board appointed William Tanona to serve as President of the Company, effective October 17, 2017, in order to fill the vacancy created by Mr. Flynn’s resignation as President of the Company. Mr. Tanona currently serves, and will continue to serve, as Chief Financial Officer, Treasurer and Corporate Secretary of the Company.
Mr. Tanona, 43,has served as the Company’s Chief Financial Officer, Treasurer and Secretary since June 2014. Mr. Tanona was a managing director at Fortress Investment Group from December 2011 to June 2014. Prior to joining Fortress in 2011, Mr. Tanona was a Managing Director at UBS AG from December 2010 to June 2011 and was a Managing Director at Collins Stewart from May 2009 to June 2010. He had previously spent over a decade at global investment banks including Goldman Sachs and JPMorgan as an equity research analyst covering financial institutions. Mr. Tanona graduated from Villanova University’s School of Business with an Accounting major and has been awarded the Chartered Financial Analyst (CFA) designation.
There is no arrangement or understanding between Mr. Tanona and any other person to which he was appointed as President of the Company, nor is there any family relationship between Mr. Tanona and any of the Company’s directors or other executive officers. Further, with regard to Mr. Tanona, there are no transactions since the beginning of the Company’s last fiscal year, or any currently proposed transaction, in which the Company is a participant thatwould require disclosure under Item 404(a) of Regulation S-K promulgated by the Securities and Exchange Commission.
About GSV CAPITAL CORP. (NASDAQ:GSVC)
GSV Capital Corp. (GSV Capital) is an externally managed, non-diversified closed-end management investment company. The Company’s investment objective is to maximize its portfolio’s total return, principally by seeking capital gains on its equity and equity-related investments. The Company invests principally in the equity securities, which are venture-capital-backed emerging companies. The Company acquires its investments through direct investments with portfolio companies, secondary marketplaces for private companies and negotiations with selling stockholders. The Company may also invest in select publicly traded equity securities or certain non-United States companies that otherwise meet its investment criteria. It seeks to invest approximately 90% of its portfolio in late-stage companies and the remaining approximately 10% in emerging companies that fit within its targeted areas. Its investment activities are managed by its investment advisor, GSV Asset Management, LLC.
