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.
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by RTT Staff Writer
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