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

Comment

Shutterstock photo

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 Nasdaq, Inc.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.



This article appears in: Investing Commodities
Referenced Stocks: MVC


More from MT Newswires

Subscribe






MT Newswires
Contributor:

MT Newswires

Market News, Commodities
Follow on:


Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com