Firsthand Technology Value Fund, Inc 8-K, filed Aug 26, 2022
Firsthand Technology Value Fund, Inc. (SVVC)
About this 8-K
Firsthand Technology Value Fund, Inc filed this 8-K on August 26, 2022.
Items reported
- Item 8.01: Other events
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities
Exchange Act of 1934
Date of Report: August 26, 2022
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| Firsthand Technology Value Fund, Inc. (Exact name of registrant as specified in its charter) | ||
| Maryland (State or other jurisdiction of incorporation) |
814-00830 (Commission File Number) |
27-3008946 (IRS Employer Identification Number) |
|
150 Almaden Blvd., Suite 1250 San Jose, CA |
95113 (Zip Code) | |
(800) 976-8776 (Registrant's telephone number, including area code) | ||
| Not Applicable (Former Name or Former Address, if changed since last report) | ||
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Item 8.01. Other Events
On August 26, 2022, Firsthand Technology Value Fund, Inc. (the "Company") issued a press release announcing that Hera Systems, a holding since 2015, has been selected to provide spacecraft and related capabilities to the Tetra-5 program for the U.S. Space Force. The press release is attached as Exhibit 99.1.
Item 9.01. Financial Statements and Exhibits
(a) Financial statements: None (b) Pro forma financial information: None (c) Shell company transactions: None (d) Exhibits
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| 99.1 | Press Release dated August 26, 2022. |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Dated: August 26, 2022 | FIRSTHAND TECHNOLOGY VALUE FUND, INC. | ||
| By: | /s/ Kevin Landis | ||
| Kevin Landis | |||
| President | |||
| Exhibit Index | |
| Exhibit No. | Description |
| 99.1 | Press release dated August 26, 2022 |
News Release
Firsthand Technology Value Fund Holding Hera Systems
Selected for U.S. Space Force Tetra-5 Program
San Jose, CA, August 26, 2022 – 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 Hera Systems, a holding since 2015, has been selected to provide spacecraft and related capabilities to the Tetra-5 program for the U.S. Space Force.
The Tetra-5 program will develop and deploy a constellation of up to three prototype spacecraft to demonstrate key inspection and docking capabilities for on-orbit refueling and the use of next-generation autonomous collaboration techniques. The U.S. Space Force has awarded the contract to lead the Tetra-5 program to Orion Space Solutions with support from Hera Systems. The contract award, if all options are exercised, is valued at up to $44.5 million.
Under its agreement with Orion Space Solutions, Hera Systems will provide the advanced spacecraft, mission unique software, and associated digital twin support for the Tetra-5 constellation, which will operate in Geostationary Earth Orbit (GEO). For more information, please visit Hera Systems' website at https://www.herasys.com.
About Firsthand Technology Value Fund
Firsthand 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.
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News Release
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. Announced acquisition transactions about the Fund's holdings, such as provided above, do not provide any indication about whether any other Fund holding will be acquired for a profit or otherwise will become a profitable investment.
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:
Phil Mosakowski
Firsthand Capital Management, Inc.
(408) 624-9526
vc@firsthandtvf.com