HomeSeptember 11, 2012
MVC Capital to Continue to Pursue IPO for U.S. Gas & Electric
Copyright 2012 EnergyChoiceMatters.com.
This story was revised at 4:44pm to reflect a clarification that the timeframe for the described IPO market conditions was solely for the three months ended July 31, 2012, and not current conditions
Although market conditions in the IPO markets for businesses such as U.S. Gas & Electric, Inc. were, "not favorable," during the three months ended July 31, 2012, MVC Capital, Inc. remains committed to monetizing the retail supplier.
Conditions in the IPO markets were negatively impacted by general IPO market conditions.
U.S. Gas & Electric, Inc. is an MVC portfolio company. Earlier this year, U.S. Gas & Electric, Inc. announced that it had engaged a Tier I investment bank to lead the pursuit of strategic alternatives for USG&E to maximize shareholder value, including a public equity offering (potentially in Canada) or a sale, which could monetize all or a portion of MVC Capital, Inc.'s investment.
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