Firsthand Technology Value Fund, Inc 8-K, filed Oct 27, 2023
Firsthand Technology Value Fund, Inc. (SVVC)
About this 8-K
Firsthand Technology Value Fund, Inc filed this 8-K on October 27, 2023, reporting on events of October 26, 2023.
Items reported
- Item 3.01: Delisting notice or listing transfer
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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CURRENT REPORT
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Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
As previously disclosed, 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 prior 31 consecutive business days, the Fund no longer met 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).
After considering various alternatives, the Fund determined it would be futile to attempt to satisfy the listing requirements for Nasdaq. The Fund’s common stock stopped trading before Nasdaq’s opening on October 26, 2023.
Beginning on October 26, 2023, the Fund’s common stock was quoted for trading through the OTCQB over-the-counter market offered by the OTC Markets Group Inc.
There can be no assurance that the Fund can continue to comply with the more limited requirements for OTCQB, or that any brokers will be willing to effect trades for the Fund’s common stock through OTCQB.
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.
| FIRSTHAND TECHNOLOGY VALUE FUND, INC. | |||
| October 27, 2023 | |||
| By: | /s/ KEVIN LANDIS | ||
| Kevin Landis | |||
| President | |||