Firsthand Technology Value Fund Portfolio Company Mattson to be Acquired for $3.80 Per Share
02 Dicembre 2015 - 8:52PM
Firsthand Technology Value Fund, Inc. (NASDAQ:SVVC) (the “Fund”), a
publicly traded venture capital fund that invests in technology and
cleantech companies, announced today that Mattson Technology, Inc.
(“Mattson”) has agreed to be acquired by Beijing E-Dragon
Semiconductor Industry Investment Center (“E-Town Dragon”).
Under the terms of the definitive merger agreement that was
announced late yesterday, E-Town Dragon will acquire all of the
outstanding shares of Mattson for $3.80 per share in cash. The
transaction is subject to approval by Mattson’s stockholders, and
is expected to close in the first calendar quarter of 2016.
Mattson (NASDAQ:MTSN) is a micro-cap company in the
semiconductor manufacturing equipment industry and has been a
holding of the Fund since 2013. As of November 30, 2015, the Fund
held 3,280,000 shares of Mattson common stock. The acquisition
price of $3.80 per share, if realized, would represent a 51.3% gain
for the Fund on its investment in Mattson.
About Firsthand Technology Value FundFirsthand
Technology Value Fund, Inc. is a publicly traded venture capital
fund that invests in technology and cleantech companies. More
information about the Fund and its holdings can be found online at
www.firsthandtvf.com.
The Fund is a non-diversified, closed-end investment company
that elected to be treated as a business development company under
the Investment Company Act of 1940. The Fund’s investment objective
is to seek long-term growth of capital. Under normal circumstances,
the Fund will invest at least 80% of its total assets for
investment purposes in technology and cleantech companies. An
investment in the Fund involves substantial risks, some of which
are highlighted below. Please see the Fund’s public filings
for more information about fees, expenses and risk. Past
investment results do not provide any assurances about future
results.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press
release contains "forward-looking statements" as defined under the
U.S. federal securities laws. Generally, the words "believe,"
"expect," "intend," "estimate," "anticipate," "project," "will,"
and similar expressions identify forward-looking statements, which
generally are not historical in nature. Forward-looking statements
are subject to certain risks and uncertainties that could cause
actual results to materially differ from the Fund’s historical
experience and its present expectations or projections indicated in
any forward-looking statement. These risks include, but are not
limited to, changes in economic and political conditions,
regulatory and legal changes, technology and cleantech industry
risk, valuation risk, non-diversification risk, interest rate risk,
tax risk, and other risks discussed in the Fund’s filings with the
SEC. You should not place undue reliance on forward-looking
statements, which speak only as of the date they are made. The Fund
undertakes no obligation to publicly update or revise any
forward-looking statements made herein. There is no assurance that
the Fund’s investment objectives will be attained. We acknowledge
that, notwithstanding the foregoing, the safe harbor for
forward-looking statements under the Private Securities Litigation
Reform Act of 1995 does not apply to investment companies such as
us.
Contact:
Heather Hohlowski
Firsthand Capital Management, Inc.
(408) 624-9525
vc@firsthandtvf.com
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