Firsthand Technology Value Fund Discloses Preliminary NAV of $13.81 Per Share as of September 30, 2020
Firsthand Technology Value Fund (NASDAQ: SVVC) announced a preliminary net asset value (NAV) of $13.81 as of September 30, 2020. The Fund's top five holdings are Pivotal Systems, IntraOp Medical, Wrightspeed, Revasum, and SVXR, which collectively constitute 87.3% of the Fund's net assets. Total investments reached $95.5 million, approximately $13.85 per share. The complete financial statements and investment details will be disclosed in the upcoming 10-Q report in November 2020.
- Preliminary NAV of $13.81 indicates stable asset valuation.
- Top five holdings comprise 87.3% of net assets, reflecting concentrated investment strategy.
- Total investments valued at $95.5 million, showcasing significant capital allocation.
- None.
Top Holdings Include Pivotal Systems, IntraOp Medical, Wrightspeed, Revasum, and SVXR
SAN JOSE, Calif., Oct. 23, 2020 (GLOBE NEWSWIRE) -- Firsthand Technology Value Fund, Inc. (NASDAQ: SVVC) (the “Fund”), a publicly traded venture capital fund that invests in technology and cleantech companies, disclosed today that its preliminary NAV, as of September 30, 2020, was
| 1. | Pivotal Systems Corp. (ASX: PVS) provides monitoring and process control technologies for the semiconductor manufacturing industry. As of September 30, 2020, the Fund’s investment in Pivotal consisted of 38,090,506 shares of common stock equivalents (CDI’s) and represented approximately |
| 2. | IntraOp Medical Corp. is the manufacturer of the Mobetron, a medical device that is used to deliver intra-operative radiation to cancer patients. As of September 30, 2020, the Fund’s investment in IntraOp consisted of 26,856,187 shares of preferred stock plus debt securities and represented approximately |
| 3. | Wrightspeed, Inc. is a supplier of electric drivetrains for medium-duty trucks. As of September 30, 2020, the Fund’s investment in Wrightspeed consisted of 60,802,795 shares of preferred and common stock plus debt securities and warrants to purchase additional shares and represented approximately |
| 4. | Revasum, Inc. (ASX: RVS) is a provider of chemical-mechanical planarization (CMP) and grinding tools to the semiconductor industry. As of September 30, 2020, the Fund’s investment in Revasum consisted of 46,834,340 shares of restricted and unrestricted common stock and common stock equivalents and represented approximately |
| 5. | SVXR, Inc. is a manufacturer of automated X-ray inspection tools for the semiconductor and microelectronics industries. As of September 30, 2020, the Fund’s investment in SVXR consisted of 8,219,454 shares of preferred stock and represented approximately |
The Fund’s preliminary net assets as of September 30, 2020, include cash and cash equivalents of approximately
About Firsthand Technology Value Fund
Firsthand Technology Value Fund, Inc. is a publicly traded venture capital fund that invests in technology and cleantech companies. More information about the Fund and its holdings can be found online at www.firsthandtvf.com.
The Fund is a non-diversified, closed-end investment company that elected to be treated as a business development company under the Investment Company Act of 1940. The Fund’s investment objective is to seek long-term growth of capital. Under normal circumstances, the Fund will invest at least
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release contains "forward-looking statements" as defined under the U.S. federal securities laws. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "will," and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to materially differ from the Fund’s historical experience and its present expectations or projections indicated in any forward-looking statement. These risks include, but are not limited to, changes in economic and political conditions, regulatory and legal changes, technology and cleantech industry risk, valuation risk, non-diversification risk, interest rate risk, tax risk, and other risks discussed in the Fund’s filings with the SEC. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. The Fund undertakes no obligation to publicly update or revise any forward-looking statements made herein. There is no assurance that the Fund’s investment objectives will be attained. We acknowledge that, notwithstanding the foregoing, the safe harbor for forward-looking statements under the Private Securities Litigation Reform Act of 1995 does not apply to investment companies such as us.
Contact:
Phil Mosakowski
Firsthand Capital Management, Inc.
(408) 624-9526
vc@firsthandtvf.com
FAQ
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