GSV Capital Corp: Falls after convertible deal pricing

Neostellar Capital

23/03/2018 17:27

** Investment company's shares  GSVC.O  down 10.7 pct at
$7.98 after co prices its convertible offering; on pace for its
worst day in over 1 year
    ** Company offers $40 mln of 4.75 pct convertible senior
notes due 2023 at initial conversion price of ~$10.72/share
    ** Initial conversion price of $10.72/shr, represents a 20
pct premium to stock's close on Thursday
    ** To use proceeds of offering to buy back or pay at
maturity a portion of outstanding 5.25 pct convertible senior
notes, which mature on Sept 15, 2018  urn:newsml:reuters.com:*:nGNXq8YLg
    ** More than 1.4 mln shares traded, ~4x times their 30-DMA
    ** Stock has gained 47 pct this year

 (Reporting by Amy Caren Daniel in Bengaluru)
 ((Reuters Messaging:
Amy.CarenDaniel.thomsonreuters.com@reuters.net))