mvc capital inc (MVC) Key Developments
MVC Capital, Inc. - Special Call
Feb 11 15
To update investors on company's progress, including shifting its focus to income-oriented investments
MVC Capital Receives Non-Compliance Notice From NYSE
Feb 9 15
MVC Capital, Inc. announced that the New York Stock Exchange has notified the Company that it is out of compliance with the NYSE's continued listing requirements under the timely filing criteria set forth in Section 802.01E of its Listed Company Manual. Such notices are routinely issued by the NYSE in situations when there are late filings with the U.S. Securities and Exchange Commission. As previously disclosed on Form 12b-25 filed with the SEC on January 14, 2015, MVC requires additional time to complete its Form 10-K for the fiscal year ended October 31, 2014. The delay is attributable to a subsidiary of one of the Company's European portfolio companies, MVC Automotive Group GmbH. The portfolio company has not completed its financial statements for the fiscal year ended December 31, 2013 or for the nine months ended September 30, 2014, and cannot yet be definitively valued as of fiscal year end 2014 by MVC's Valuation Committee. MVC expects that it will be in compliance with the NYSE listing standards upon filing its Form 10-K and is working diligently to do so as soon as possible. The NYSE has informed the Company that under the NYSE rules, the Company has until July 30, 2015 to file its 2014 Annual Report on Form 10-K with the SEC. If the Company fails to file its Form 10-K prior to such date, then the NYSE may, in its sole discretion, grant an additional extension of up to six months depending on the specific circumstances. The letter from the NYSE also notes that the NYSE may commence delisting proceedings at any time during the extension period, if the circumstances warrant.
MVC Capital, Inc. announced delayed annual 10-K filing
Jan 14 15
On 01/14/2015, MVC Capital, Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC.
MVC Capital, Inc. Enters into Six Month $25 Million Non-Revolving Credit Facility with Firstrust Bank
Jan 6 15
MVC Capital, Inc. entered into a six month, $25 million non-revolving credit facility with Firstrust Bank. That same day, the fund borrowed $15.9 million under the credit facility to partially finance investments in certain senior subordinated loans. The credit facility will expire on June 30, 2015, at which time all outstanding amounts under the credit facility will be due and payable. Borrowings under the credit facility bear interest at a fixed rate of 5% with a guaranteed payment of 90 days of interest. In addition, the fund was subject to a loan fee of 1% of the commitment amount paid at closing. Borrowings under the credit facility are subject to certain collateral requirements, which include a first position security lien on substantially all of the fund's senior and subordinated promissory note investments.
MVC Capital, Inc. Declares First Quarter Dividend, Payable on January 7, 2015
Dec 19 14
MVC Capital, Inc. announced that its board of directors has declared a first quarter dividend of $0.135 per share. The dividend is payable on January 7, 2015 to shareholders of record on December 31, 2014.