GSV Capital Corp. Announces Adjustment to Conversion Rate of 5.25% Convertible Senior Notes Due 2018
WOODSIDE, Calif., Aug. 24, 2016 (GLOBE NEWSWIRE) -- GSV Capital Corp. (the "Company" or "GSV Capital") (Nasdaq:GSVC), today announced an adjustment to the conversion rate of its 5.25% Convertible Senior Notes due 2018 (the "Convertible Senior Notes"). The adjustment to the Convertible Senior Notes was made as a result of the cash dividend declared by the Company's Board of Directors on August 3, 2016, which is payable on August 24, 2016 to the Company's stockholders of record as of the close of business on August 16, 2016 (the "Record Date").
As a result of the dividend, effective after the close of business on the Record Date, the conversion rate of the Convertible Senior Notes adjusted to 83.3596 shares of common stock per $1,000 principal amount of the Convertible Senior Notes, which is equivalent to a conversion price of approximately $12.00 per share of the Company's common stock, from the conversion rate of 82.7567 shares of common stock per $1,000 principal amount of the Convertible Senior Notes, which was equivalent to a conversion price of approximately $12.08 per share of the Company's common stock. The Convertible Senior Notes mature on September 15, 2018, unless previously repurchased or converted in accordance with their terms.
About GSV Capital Corp.
GSV Capital Corp. (GSVC) is a publicly traded investment fund that seeks to invest in high-growth, venture-backed private companies. Led by industry veteran Michael Moe, the fund seeks to create a portfolio of high-growth emerging private companies via a repeatable and disciplined investment approach, as well as to provide investors with access to such companies through its publicly traded common stock. GSV Capital is headquartered in Woodside, CA. www.gsvcap.com
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Statements included herein may constitute "forward-looking statements," which relate to future events or our future performance or financial condition. These statements are not guarantees of our future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in filings with the SEC. GSV Capital Corp. undertakes no duty to update any forward-looking statements made herein, unless required to do so by law.
Contact GSV Capital Corp. (650) 235-4769 IR@gsvam.com