GSV Capital raises conversion rate of 5.25% convertibles due 2018

By Wendy Van Sickle

Columbus, Ohio, March 9 – GSV Capital Corp. raised the conversion rate of its 5.25% convertible senior notes due Sept. 15, 2018, according to a press release.

The conversion rate was raised to 82.7567 shares of common stock per $1,000 principal amount of notes, which equals a conversion price of about $12.08 per share, from the initial conversion rate of 61.5091 shares per $1,000 principal, which equaled a conversion price of about $16.26 per share.

The rate adjustment was a result of the dividend paid on Dec. 31 to the company’s stockholders of record as of Nov. 16.

GSV is an investment fund based in Woodside, Calif.

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