Keating Capital Announces Distribution of $0.03 Per Share to Stockholders
Distribution Based on Net Realized Capital Gains from the Sale of Portfolio
GREENWOOD VILLAGE, Colo. -- December 06, 2012
On December 6, 2012, the Board of Directors of Keating Capital, Inc. (Nasdaq:
KIPO) (www.KeatingCapital.com) declared a cash distribution of $0.03 per
share. The distribution is payable on December 26, 2012, to stockholders of
record as of December 14, 2012 (the “Record Date”). The aggregate cash
distribution of $282,203 will be payable on all shares of the Company’s common
stock outstanding as of the Record Date and represents a distribution of the
Company’s net realized capital gains for 2012.
The Company’s net realized capital gains for 2012 were comprised of realized
gains of $403,631 from the Company’s disposition of 65,000 shares of Solazyme,
Inc., reduced by realized losses of $121,428 from the disposition of the
Company’s entire position of 160,000 shares of NeoPhotonics Corporation.
The Company’s dividend reinvestment plan ("DRIP") provides for reinvestment of
dividends, unless stockholders have previously elected to receive cash. If you
are a stockholder and your shares of the Company’s common stock are held
through a brokerage firm or other financial intermediary and you wish to
discuss your participation status in the DRIP, please contact your broker or
other financial intermediary.
Timothy J. Keating, the CEO of Keating Capital, commented that “this is
Keating Capital’s first distribution of net realized capital gains and a very
important milestone in our short history. As of September 30, 2012, the
weighted-average holding period for the overall portfolio was 10.6 months.
With a target average holding period for each investment of three years, the
portfolio is still young. This capital gain distribution from the
first-of-its-kind fund evidences the type of capital appreciation that is
potentially available from the step-up in valuation as companies transform
from private to public status.”
About Keating Capital, Inc.
Keating Capital is a business development company that specializes in making
pre-IPO investments in innovative, emerging growth companies that are
committed to and capable of becoming public. We provide investors with the
ability to participate in a unique fund that allows our stockholders to share
in the potential value accretion that we believe typically occurs once a
company transforms from private to public status. Keating Capital’s shares are
listed on Nasdaq under the ticker symbol “KIPO.”
To be added to Keating Capital’s email distribution list to receive quarterly
newsletters and other announcements, go to www.KeatingCapital.com/contact.
This press release may contain statements of a forward-looking nature relating
to future events. These forward-looking statements are subject to the inherent
uncertainties in predicting future results and conditions. These statements
reflect Keating Capital’s current beliefs, and a number of important factors
could cause actual results to differ materially from those expressed in this
press release, including the factors set forth in “Risk Factors” set forth in
Keating Capital’s Form 10-K and Form 10-Q filed with the Securities and
Exchange Commission (“SEC”), and subsequent filings with the SEC. Please refer
to Keating Capital’s SEC filings for a more detailed discussion of the risks
and uncertainties associated with its business, including but not limited to
the risks and uncertainties associated with investing in micro- and small-cap
companies. Except as required by the federal securities laws, Keating Capital
undertakes no obligation to revise or update any forward-looking statements,
whether as a result of new information, future events or otherwise. The
reference to Keating Capital’s website has been provided as a convenience, and
the information contained on such website is not incorporated by reference
into this press release.
Keating Capital, Inc.
Investor Relations Contact:
Margie L. Blackwell, 720-889-0133
Investor Relations Director
Public Relations Contact:
Chris Moon, 973-850-7304
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