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

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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.

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This article appears in: Investing , Commodities

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