Key Developments: MVC Capital Inc (MVC)

MVC on New York Consolidated

12.84USD
10 Jul 2014
Price Change (% chg)

$0.04 (+0.31%)
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$12.80
Open
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Volume
154,951
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$14.90
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Latest Key Developments (Source: Significant Developments)

MVC Capital Inc and Equus complete share exchange
Thursday, 15 May 2014 08:02am EDT 

MVC Capital Inc:Signing share exchange agreement with Equus Total Return Inc.Under terms of reorganization, Equus will pursue merger or consolidation with MVC, subsidiary of MVC, or one or more of MVC's portfolio companies.Absent Equus merging or consolidating with/into MVC itself, current intention is for Equus to be restructured into publicly-traded operating co focused on the energy and/or financial services sectors and seek to terminate its election as a business development co.Pursuant to share exchange agreement, MVC has received 2,112,000 shares of Equus in exchange for 395,839 shares of MVC.As part of reorganization, MVC may acquire additional Equus shares from time to time, either through Equus' direct sale of newly issued shares to MVC or through the purchase of Equus shares by MVC.Consummation of reorganization is anticipated to occur within one year, and Equus currently intends to maintain common stock listed on NYSE after that point unless Equus is merged with MVC.  Full Article

MVC Capital declares second quarter dividend
Monday, 14 Apr 2014 08:45am EDT 

MVC Capital Inc:Declares dividend of $0.135 per share for the second quarter of fiscal 2014.Dividend is payable on April 30 to shareholders of record on April 24.  Full Article

MVC Capital Inc declares first quarter dividend
Friday, 20 Dec 2013 09:01am EST 

MVC Capital Inc:Declares a dividend of $0.135 per share to be distributed to shareholders for the first quarter of fiscal 2014.Says dividend is payable on Jan. 7, 2014 to shareholders of record on Dec. 31.  Full Article

MVC Capital Inc Declares Fourth Quarter Dividend
Monday, 14 Oct 2013 09:00am EDT 

MVC CAPITAL, Inc announced that its Board of Directors has declared a dividend of $0.135 per share to be distributed to shareholders for the fourth quarter of fiscal 2013. The dividend is payable on October 31, 2013 to shareholders of record on October 24, 2013.  Full Article

MVC Capital Inc Reaches Agreement To Sell Investment in U.S. Gas & Electric
Friday, 4 Oct 2013 08:50am EDT 

MVC Capital Inc announced that an agreement has been reached to sell U.S. Gas & Electric, Inc. (USG&E or the Company), MVC's portfolio holding, to United States Gas & Electric Holdings, Inc. (US Holdings), a holding company primarily owned by Mr. Louis Beck, Mr. Lance T. Shaner and members of the management of USG&E. The transaction is expected to close by October 31, 2013. Upon satisfaction of the closing conditions, including establishment of an escrow, MVC expects to receive gross proceeds of approximately $97.2 million for its equity investment, resulting in a realized gain of approximately $96.7 million1 based upon a $500,000 equity investment made in August 2007. Upon completion of the transaction, equity proceeds are expected to be paid to MVC in three installments over a 13-month period, secured by a standby letter of credit. The first installment payment is anticipated to be made by October 31, 2013. Assuming the transaction closes, MVC anticipates that its quarterly dividends, subject to Board approval, could materially increase.  Full Article

MVC Capital Inc Secures $50 Million Revolving Credit Facility
Monday, 5 Aug 2013 08:45am EDT 

MVC Capital, Inc. announced that Branch Banking and Trust Company (BB&T) has provided the Company with a $50 million one-year revolving credit facility (the "Facility"). The additional $50 million credit facility will be used to enhance the Company's investment flexibility in managing MVC Capital's investment portfolio. The Facility bears interest at LIBOR plus 100 basis points.  Full Article

MVC Capital Inc Announces CFO Change-Form 8-K
Monday, 29 Jul 2013 05:16pm EDT 

MVC Capital Inc reported in its Form 8-K that on July 23, 2013, the Board of Directors of MVC Capital, Inc. (Company) accepted the resignation of Peter Seidenberg as Chief Financial Officer (CFO) of the Company, effective November 1, 2013, and appointed Scott Schuenke as Chief Financial Officer (CFO), effective November 1, 2013. Mr. Seidenberg will remain at the Company as a senior investment professional.  Full Article

MVC Capital Inc Declares Third Quarter Dividend of $0.135 Per Share
Friday, 12 Jul 2013 08:50am EDT 

MVC Capital Inc announced that its board of directors has declared a dividend of $0.135 per share to be distributed to shareholders for the third quarter of fiscal 2013. The dividend is payable on July 31, 2013 to shareholders of record on July 24, 2013.  Full Article

MVC Capital Inc Repurchases $15 Million Of Stock In Three Months
Monday, 24 Jun 2013 05:00pm EDT 

MVC Capital Inc announced that it has repurchased approximately $15 million worth of its common stock under a share repurchase program authorized by its board of directors. On June 19, 2013, MVC repurchased a block of 500,000 shares at a price of $12.72 per share. Under the terms of the share repurchase program, MVC has repurchased 1,206,294 common shares at an average price of $12.79 per share during the period from March 21, 2013 to June 19, 2013. As of June 19, 2013, MVC has 22,710,688 shares outstanding. The 500,000 share repurchase on June 19, 2013 alone had an accretive effect on NAV of $1.9 million based on the Fund's April 30, 2013 NAV.  Full Article

MVC Capital Inc Declares Second Quarter Dividend Of $0.135 Per Share
Friday, 12 Apr 2013 08:45am EDT 

MVC Capital Inc announced that the Board of Directors has declared a dividend of $0.135 per share, to be distributed to shareholders for the second quarter of fiscal 2013. The dividend is payable on April 30, 2013 to shareholders of record on April 23, 2013.  Full Article

Doximity, the LinkedIn for doctors, raises $54 million from T Rowe Price, DFJ

SAN FRANCISCO - Doximity, an online professional network for physicians, has raised $54 million in new funding from investors including T. Rowe Price and Draper Fisher Jurvetson, making it one of the most well-financed private companies in health IT.

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