Firsthand Technology Value Fund Discloses Top Portfolio Holdings
2018年9月12日 - 10:00PM
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 top five holdings
as of August 31, 2018, were Pivotal Systems, IntraOp Medical,
Revasum, QMAT, and Roku.
1. |
Pivotal Systems Corp. (ASX: PVS) provides
monitoring and process control technologies for the semiconductor
manufacturing industry. As of August 31, 2018, the Fund’s
investment in Pivotal consisted of 53,758,441 shares of restricted
common stock and represented approximately 46.0% of the Fund’s
estimated net assets.* |
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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 August 31, 2018, the Fund’s
investment in IntraOp consisted of 26,856,187 shares of preferred
stock plus debt securities and represented approximately 10.9% of
the Fund’s estimated net assets.* |
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3. |
Revasum, Inc. is a provider of chemical-mechanical
planarization (CMP) and grinding tools to the semiconductor
industry. As of August 31, 2018, the Fund’s investment in
Revasum consisted of 2,965,717 shares of preferred stock and common
stock plus debt securities and warrants to purchase additional
shares, and represented approximately 10.3% of the Fund’s estimated
net assets.* |
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4. |
QMAT, Inc. is developing advanced materials
technologies for applications in the electronics industry. As of
August 31, 2018, the Fund’s investment in QMAT consisted of
18,000,240 shares of preferred stock plus debt securities and
warrants to purchase additional shares, and represented
approximately 7.3% of the Fund’s estimated net assets.* |
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5. |
Roku, Inc. (NASDAQ: ROKU) is a streaming media
device provider. As of August 31, 2018, the Fund’s investment in
Roku consisted of 250,000 shares of common stock and represented
approximately 6.3% of the Fund’s estimated net assets.* |
The Fund also announced that as of August 31, 2018, estimated
net assets of the Fund were approximately $236 million, or $32.35
per share, including cash and cash equivalents of approximately
$0.27 per share. As of that date, the Fund’s top five holdings
constituted 80.8% of the Fund’s estimated net assets.* Complete
financial statements and a detailed schedule of investments as of
September 30, 2018, will be available in the Fund’s quarterly
report filing on Form 10-Q in November.
*Estimated net assets as of August 31, 2018, represent net
assets of approximately $186 million as of June 30, 2018, plus the
net change in unrealized appreciation/depreciation and realized
gains/losses on publicly traded and private securities since June
30, 2018. For the purposes of calculating the percentage of net
assets represented by each investment, the value of each holding is
determined by the most recent of: (1) the purchase price, (2) the
market value for public securities, less any discounts taken due to
restrictions on the stock, or (3) the June 30, 2018, fair value of
each security, as determined under procedures approved by our Board
of Directors.
About Firsthand Technology Value FundFirsthand
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 80% of its total assets for
investment purposes in technology and cleantech companies. An
investment in the Fund involves substantial risks, some of which
are highlighted below. Unlike most business development companies,
the Fund is taxed as a corporation rather than a Regulated
Investment Company under federal tax laws, based on the composition
of its assets. Please see the Fund’s public filings for more
information about fees, expenses and risk. Past investment
results do not provide any assurances about future results.
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:
Heather HohlowskiFirsthand Capital Management, Inc. (408)
624-9525vc@firsthandtvf.com
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