GSV Capital Invests in Facebook
June 27 2011 - 8:00AM
GSV Capital Corp. (Nasdaq:GSVC) announced that it has acquired
225,000 shares in social-networking company Facebook at an average
price of $29.28 per share. The investment of $6,587,500 represents
approximately 15% of GSV's total portfolio.
"Facebook is a one-of-a-kind business which has created enormous
network effects. With over 650 million people on its platform, or
approximately 1/10 of the world's population, Facebook has
established itself as a next generation social communications
platform," said Michael T. Moe, GSV Capital's CEO and founder.
GSV Capital's mission is to identify and invest in the premier
VC backed private companies in the marketplace today – at
attractive valuations.
"GSV leveraged its network to quickly execute the transaction,
entering the agreement to purchase shares of Facebook shortly after
the close of our company's initial public offering. This is a
true testament to the strength of our team and a great example of
how we intend to quickly seize opportunities on behalf of our
investors," Moe added.
This purchase of Facebook shares was subject to certain closing
conditions, including a 30-day "Right of First Refusal" or ROFR,
expiration.
GSV is presently in the final stages with a handful of private
company investments that it anticipates acquiring within the
next 30 days, subject to applicable closing conditions.
About GSV Capital Corp.
GSV Capital Corp. (Nasdaq:GSVC) is a publicly traded investment
fund that gives individual investors access to high growth, venture
backed private companies. GSV Capital is a closed-end investment
company that has elected to be treated as a business development
company under the Investment Company Act of 1940. GSV is
headquartered in Woodside, CA. For more information please
visit http://gsvcap.com/
The GSV Capital Corp. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=9556
Forward-Looking Statements
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 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 our filings with the Securities and Exchange
Commission. GSV Capital Corp. undertakes no duty to update any
forward-looking statements made herein.
CONTACT: Investors:
Alex Wellins
(415) 217-5861
alex@blueshirtgroup.com
Media:
Kim Hughes
(415) 489-2188
kim@blueshirtgroup.com
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