Firsthand Fund: 20% Upside Buying Opportunity Created By Resolution Of Proxy Fight
- SVVC is trading at a 22% discount to NAV.
- It settled a proxy contest with an activist fund (Bulldog Investors) and will return approximately 24% of NAV to shareholders via buybacks and distributions.
- Buybacks and distributions to be funded via cash on hand and liquidating publicly traded securities in its portfolio.
- Minimal downside (8%) and very attractive upside (20% in 9 months or sooner) via buybacks, distributions and compression of the spread between the market price and the NAV.