mvc capital inc (MVC) Key Developments
MVC Capital, Inc. Declares Dividend for the third quarter of 2015, Payable on July 31, 2015
Jul 17 15
MVC Capital, Inc. announced that its board of directors has declared a dividend of $0.135 per share for the third quarter of 2015. The dividend is payable on July 31, 2015 to shareholders of record on July 27, 2015.
Ernst & Young LLP Do Not Stand for Reappointment as Auditor of MVC Capital, Inc
Jul 6 15
On June 29, 2015, Ernst & Young LLP (E&Y) indicated to MVC Capital, Inc. its determination not to stand for reappointment as the independent registered public accounting firm of the Fund for the fiscal year ending October 31, 2015. The determination was accepted by the Fund's Audit Committee at a meeting held the following day. The process for identifying a successor auditor is underway. E&Y will remain as the Fund's auditor for the financial statements to be included in the Annual Report on Form 10-K for the Fund's fiscal year ended October 31, 2014 and the restated financial statements to be included in an amended Annual Report on Form 10-K for the fiscal year ended October 31, 2013 (together, the 2014 and 2013 Financial Statements), both audits of which are currently in progress.
MVC Capital, Inc. Renews the Credit Facility with Firstrust Bank Until October 31, 2015
Jul 6 15
On December 30, 2014, MVC Capital, Inc. (the Fund) entered into a six month, $25 million credit facility with Firstrust Bank (Firstrust). On June 29, 2015, the fund renewed the Credit Facility with Firstrust until October 31, 2015, at which time all outstanding amounts under the Credit Facility will be due and payable. The primary changes in the amendment include an increase in the facility from $25 to $30 million and changing from a non-revolving to a revolving line of credit. Other material changes include the replacement of a guaranteed interest charge with an unused fee of 50 bps, and a reduced commitment fee to 50bps from the previous 100bps charged. All other material terms of the Credit Facility remain unchanged, and borrowings under the Credit Facility continue to be subject to certain collateral requirements, which include a first position security lien on substantially all of the Fund’s senior and subordinated debt investments. As of June 30, 2015, there was $6.79 million outstanding under the Credit Facility.
MVC Capital, Inc. announced delayed 10-Q filing
Jun 10 15
On 06/10/2015, MVC Capital, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC.
MVC Capital, Inc. Declares Second Quarter Dividend, Payable on April 30, 2015
Apr 17 15
MVC Capital, Inc. announced that its board of directors has declared a second quarter dividend of $0.135 per share. The dividend is payable on April 30, 2015 to shareholders of record on April 27, 2015.