GSV Capital files form N-2 related to offering of 3 mln shares (19.50 +0.75)
From filing: “Our common stock is listed on the NASDAQ Capital Market under the symbol “GSVC.” On February 8, 2012, the last reported sales price on the NASDAQ Capital Market for our common stock was $18.75 per share, which represents a premium of 41.4% to our net asset value per share as of September 30, 2011, or 46.5% to the low point of our unaudited estimated net asset value per share range as of December 31, 2011. In addition, our investment adviser, GSV Asset Management, LLC, and our administrator, GSV Capital Service Company, LLC, have limited experience managing and administering a business development company, respectively.”
Joined Nov 11, 2007
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“a business development company”
I suppose calling it that allows the companies serving as adviser and administrator to charge higher fees.
Calling it “a fund of illiquid, high-risk securities” might scare someone off.
Higher fees than what?
What fees should they be charging, by your lights?
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They have an asset management LLC and an administrator LLC! It looks like dudes are getting paid at least twice.