Firsthand Technology Value Fund, Inc 8-K, filed Aug 1, 2023
Firsthand Technology Value Fund, Inc. (SVVC)
About this 8-K
Firsthand Technology Value Fund, Inc filed this 8-K on August 1, 2023, reporting on events of July 28, 2023.
Items reported
- Item 3.01: Delisting notice or listing transfer
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Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On July 28, 2023, Firsthand Technology Value Fund, Inc. (the “Fund”) received a letter (the “Notice”) from the Nasdaq Stock Market (“Nasdaq”) indicating that, based on the Fund’s market value of publicly held shares for the last 31 consecutive business days, the Fund no longer meets the requirement to maintain a minimum market value of publicly held shares of $5,000,000, as set forth in Nasdaq Listing Rule 5450(b)(1)(C).
The Notice provides the Fund with a grace period of 180 calendar days, or until January 24, 2024, to regain compliance with the listing rule. If at any time during this grace period the Fund’s market value of publicly held shares closes at $5,000,000 or more for a minimum of ten consecutive business days, Nasdaq will provide the Fund with written confirmation of compliance and the matter will be closed. If the Fund does not regain compliance within the grace period, the Fund expects that Nasdaq would provide notice that its securities are subject to delisting.
This Form 8-K is filed to satisfy the obligation under Rule 5810(b) that the Fund publicly disclose the deficiency within four business days after the date of the Notice.
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.
| August 1, 2023 | FIRSTHAND TECHNOLOGY VALUE FUND, INC. | ||
| By: | /s/ Kevin Landis | ||
| Kevin Landis | |||
| President | |||