GSV Capital offers shares at deep discount

GSV Capital offers shares at deep discount

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(Global Markets) - GSV Capital Corp (GSVC.O) priced its offering of 6 million shares at a deep discount to boost its stake in Facebook Inc and fund its investments in other internet companies such as Twitter and Dropbox.

The company said its common stock offering was priced at $15 apiece, a discount of 23 percent to its Thursday close.

In June, the company said it had bought 225,000 shares in Facebook at an average price of $29.28 each and that the $6.6 million investment in Facebook represents about 15 percent of GSV's total portfolio.

Citigroup Global Markets Inc is acting as sole book-running manager for the offering.

Shares of the Woodside, California-based company were trading down 20 percent at $15.48 in late morning trade on the Nasdaq.

(Reporting by Tanya Agrawal in Bangalore; Editing by Anil D'Silva)