MVC Capital Launches Dutch Tender Offer

Financial consultant MVC Capital said Friday it has begun a modified Dutch auction tender offer to purchase up to $15 million of its common stock at no less than $10 a share and not greater than $11 in $0.20 increments.

If the tender offer is fully subscribed, MVC will purchase between 6.0% and 6.6% of MVC’s outstanding shares of its common stock. Based on the number of shares tendered and the prices specified by the tendering stockholders, MVC will determine the lowest per-share price that will enable it to acquire up to $15 million of its common stock.

By Kristen Tardella