Firsthand Technology Value Fund (SVVC) Slammed After Stock Offering
Tweet
Share
E-mailGet Alerts SVVC Hot Sheet
Join SI Premium – FREE
Firsthand Technology Value Fund (Nasdaq: SVVC) is under heavy pressure Thursday after pricing a follow-on offering of 4.4 million shares of its common stock at $27.00 per share. This was a sharp discount to yesterday's close of $30.30.
The Company intends to use the net proceeds of this public offering to invest in portfolio companies in accordance with its investment objective and strategies.
Firsthand Technology Value has seen a huge ramp recently above NAV of $24.56 on hype related to the upcoming Facebook IPO. The company owns 600,000 Facebook shares.
Firsthand Technology Value last traded down 11.7 percent to $26.75.
The Company intends to use the net proceeds of this public offering to invest in portfolio companies in accordance with its investment objective and strategies.
Firsthand Technology Value has seen a huge ramp recently above NAV of $24.56 on hype related to the upcoming Facebook IPO. The company owns 600,000 Facebook shares.
Firsthand Technology Value last traded down 11.7 percent to $26.75.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Exclusive: PayPal cuts 220 jobs in India, 160 in Ireland
- Empire Petroleum (EP) files $350M mixed shelf
- Dutch Bros Inc. (BROS) files mixed shelf
Create E-mail Alert Related Categories
Equity Offerings, Trader TalkSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
