Firsthand Technology Value Fund Discloses Top Portfolio Holdings
November 14 2017 - 9:00AM
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 October 31, 2017, were Pivotal Systems, IntraOp Medical,
Nutanix, QMAT, and Wrightspeed.
- Pivotal Systems Corp. provides monitoring and
process control technologies for the semiconductor manufacturing
industry. As of October 31, 2017, the Fund’s investment in Pivotal
consisted of 33,508,691 shares of preferred stock plus warrants to
purchase additional shares and represented approximately 21.1% of
the Fund’s estimated net assets.*
- 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 October 31,
2017, the Fund’s investment in IntraOp consisted of 26,856,187
shares of preferred stock plus debt securities and represented
approximately 15.1% of the Fund’s estimated net assets.*
- Nutanix, Inc. (NASDAQ:NTNX) is a provider of
hyperconverged data center equipment that merges computing,
storage, and networking capabilities in a single piece of
equipment. As of October 31, 2017, the Fund’s investment in Nutanix
consisted of 459,772 shares of common stock and represented
approximately 9.3% of the Fund’s estimated net assets.*
- QMAT, Inc. is developing advanced materials
technologies for applications in the electronics industry. As of
October 31, 2017, 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 8.8% of the Fund’s estimated net assets.*
- Wrightspeed, Inc. is a supplier of electric
drivetrains for medium-duty trucks. As of October 31, 2017, the
Fund’s investment in Wrightspeed consisted of 3,910,158 shares of
preferred stock and warrants to purchase additional shares and
represented approximately 7.6% of the Fund’s estimated net
assets.*
The Fund also announced that, as of October 31, 2017, estimated
net assets of the Fund were approximately $141 million, or $18.93
per share, including cash and cash equivalents of approximately
$0.73 per share. As of that date, the Fund’s top five holdings
constituted 61.9% of the Fund’s estimated net assets.* Complete
financial statements and a detailed schedule of investments as of
September 30, 2017, are available in the Fund’s quarterly report
filing on Form 10-Q.
*Estimated net assets as of October 31, 2017, represent net
assets of approximately $139 million as of September 30, 2017, plus
the net change in unrealized appreciation/depreciation and realized
gains/losses on publicly traded and private securities since
September 30, 2017. 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
September 30, 2017, 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. 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
Nutanix (NASDAQ:NTNX)
Historical Stock Chart
From Aug 2024 to Sep 2024
Nutanix (NASDAQ:NTNX)
Historical Stock Chart
From Sep 2023 to Sep 2024