GSV Capital Corp. (Nasdaq:GSVC), a Woodside, California-based investment fund that invests in high-growth, venture-backed private companies, has closed its follow-on offering of shares of its common stock.
The company issued 6.9m shares resulting in gross proceeds of $103.5m.
GSV Capital intends to use the proceeds to invest in portfolio companies in accordance with its investment objective and strategies, and for working capital and general corporate purposes.
Led by industry veteran Michael Moe, the fund intends to create a portfolio of high-growth emerging private companies via a repeatable and disciplined investment approach, as well as to provide investors with access to such companies through its publicly traded common stock.
Citigroup Global Markets Inc. acted as sole book-running manager for the offering while Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE Amex:LTS), Lazard Capital Markets, National Securities Corporation, Aegis Capital Corp. and Maxim Group LLC acted as co-managers.