MVC Capital To Invest Up To $3.05 Mln In Biovation Holding

Trade MVC now with

6/8/2012 12:41 PM ET

MVC Capital Inc. (MVC: Quote), a business development company, said Friday that it will invest up to $3.05 million in Biovation Holding Inc.

Biovation Holdings, based in Mankato, is a manufacturer and marketer of environmentally friendly, organic and sustainable laminate materials and composites.

As per terms of the deal, MVC has funded a $1.5 million note and will fund a $1.55 million preferred equity investment, upon the realization of certain manufacturing, sales, and capital expenditure milestones.

Click here to receive FREE breaking news email alerts for MVC CAPITAL INC and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

<<Previous 146 Articles Next>>

Editors Pick

Red Hat Results Edge Past Estimates

Red Hat Inc., the world's largest seller of Linux software, said Wednesday after the markets closed that its first quarter profit rose 8% from last year, as revenue increased 15% amid strong consumer demand. The company's quarterly earnings per share, excluding items, also came in above analysts' expectations as did its quarterly revenue.

Negative Reaction To Fed Leads To Sell-Off On Wall Street - U.S. Commentary

After moving mostly higher over the course of the two previous sessions, stocks pulled back sharply during trading on Wednesday. A negative reaction to the Federal Reserve's monetary policy announcement weighed on the markets in afternoon trading. The major averages saw some volatility following the announcement from the Fed, closing firmly in the red.

CBO Finds Senate Immigration Bill Would Reduce Budget Deficit

Providing a potential boost to comprehensive immigration reform, the non-partisan Congressional Budget Office has estimated that the immigration bill currently being debated in the Senate would result in a notable reduction to the federal budget deficit.