Referenced Stocks

MVC Capital to Invest $3.05Mln in Biovation Holdings - Shares Gain 1%

By Midnight Trader,  June 08, 2012, 11:13:03 AM EDT

MVC Capital, Inc. ( MVC ) is up 1% at $12.48, with the day's high only a cent higher. Shares are on the move after the business development company announced it will invest up to $3.05 million in Biovation Holdings Inc., a manufacturer and marketer of environmentally friendly, organic and sustainable laminate materials and composites.

Per the agreement, MVC has funded a $1.5 million note and, upon the realization of certain manufacturing, sales, and capital expenditure milestones, will fund a $1.55 million preferred equity investment.

MVC trades in a 52-week range of $10.02 - $13.72.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

Referenced Stocks: MVC



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