SCHEDULE 13D/A
DATE OF EVENT WHICH REQUIRES FILING OF THIS STATEMENT
1/10/14
1. NAME OF REPORTING PERSON
Bulldog Investors, LLC
2. CHECK THE BOX IF MEMBER OF A GROUP a[ ]
b[]
3. SEC USE ONLY
4. SOURCE OF FUNDS
WC
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) AND 2(e) []
6. CITIZENSHIP OR PLACE OF ORGANIZATION
DE
___________________________________________________________
7. SOLE VOTING POWER
593,200
8. SHARED VOTING POWER
491,274
9. SOLE DISPOSITIVE POWER
593,200
_______________________________________________________
10. SHARED DISPOSITIVE POWER
491,274
11. AGGREGATE AMOUNT OWNED BY EACH REPORTING PERSON
1,084,474 (Footnote 1)
12. CHECK IF THE AGGREGATE AMOUNT EXCLUDES CERTAIN SHARES
[]
___________________________________________________________
13. PERCENT OF CLASS REPRESENTED BY ROW 11
11.95%
14. TYPE OF REPORTING PERSON
IA
1. NAME OF REPORTING PERSON
Bulldog Investors Group of Funds
2. CHECK THE BOX IF MEMBER OF A GROUP a[X]
b[]
3. SEC USE ONLY
4. SOURCE OF FUNDS
WC
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) AND 2(e) [ ]
6. CITIZENSHIP OR PLACE OF ORGANIZATION
DE
___________________________________________________________
7. SOLE VOTING POWER
593,200
8. SHARED VOTING POWER
0
9. SOLE DISPOSITIVE POWER
593,200
_______________________________________________________
10. SHARED DISPOSITIVE POWER
0
11. AGGREGATE AMOUNT OWNED BY EACH REPORTING PERSON
593,200
12. CHECK IF THE AGGREGATE AMOUNT EXCLUDES CERTAIN SHARES
[]
___________________________________________________________
13. PERCENT OF CLASS REPRESENTED BY ROW 11
6.54%
14. TYPE OF REPORTING PERSON
IC
___________________________________________________________
1. NAME OF REPORTING PERSON
Phillip Goldstein
2. CHECK THE BOX IF MEMBER OF A GROUP a[x]
b[]
3. SEC USE ONLY
4. SOURCE OF FUNDS
WC
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) AND 2(e) []
6. CITIZENSHIP OR PLACE OF ORGANIZATION
USA
___________________________________________________________
7. SOLE VOTING POWER
593,200
8. SHARED VOTING POWER
491,274
9. SOLE DISPOSITIVE POWER
593,200
_______________________________________________________
10. SHARED DISPOSITIVE POWER
491,274
11. AGGREGATE AMOUNT OWNED BY EACH REPORTING PERSON
1,084,474 (Footnote 1)
12. CHECK IF THE AGGREGATE AMOUNT EXCLUDES CERTAIN SHARES
[]
___________________________________________________________
13. PERCENT OF CLASS REPRESENTED BY ROW 11
11.95%
14. TYPE OF REPORTING PERSON
IN
___________________________________________________________
1. NAME OF REPORTING PERSON
Andrew Dakos
2. CHECK THE BOX IF MEMBER OF A GROUP a[ ]
b[]
3. SEC USE ONLY
4. SOURCE OF FUNDS
WC
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) AND 2(e) []
6. CITIZENSHIP OR PLACE OF ORGANIZATION
USA
___________________________________________________________
7. SOLE VOTING POWER
593,200
8. SHARED VOTING POWER
491,274
9. SOLE DISPOSITIVE POWER
593,200
_______________________________________________________
10. SHARED DISPOSITIVE POWER
491,274
11. AGGREGATE AMOUNT OWNED BY EACH REPORTING PERSON
1,084,474 (Footnote 1)
12. CHECK IF THE AGGREGATE AMOUNT EXCLUDES CERTAIN SHARES
[]
___________________________________________________________
13. PERCENT OF CLASS REPRESENTED BY ROW 11
11.95%
14. TYPE OF REPORTING PERSON
IN
___________________________________________________________
1. NAME OF REPORTING PERSON
Steven Samuels
2. CHECK THE BOX IF MEMBER OF A GROUP a[ ]
b[]
3. SEC USE ONLY
4. SOURCE OF FUNDS
WC
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) AND 2(e) []
6. CITIZENSHIP OR PLACE OF ORGANIZATION
USA
___________________________________________________________
7. SOLE VOTING POWER
593,200
8. SHARED VOTING POWER
491,274
9. SOLE DISPOSITIVE POWER
593,200
_______________________________________________________
10. SHARED DISPOSITIVE POWER
491,274
11. AGGREGATE AMOUNT OWNED BY EACH REPORTING PERSON
1,084,474 (Footnote 1)
12. CHECK IF THE AGGREGATE AMOUNT EXCLUDES CERTAIN SHARES
[]
___________________________________________________________
13. PERCENT OF CLASS REPRESENTED BY ROW 11
11.95%
14. TYPE OF REPORTING PERSON
IN
_______________________________________________________
Item 1. SECURITY AND ISSUER
This statement constitutes Amendment #7 to the schedule 13d
filed November 22, 2013. Except as specifically set forth
herein, the Schedule 13d remains unmodified.
Item 4. PURPOSE OF TRANSACTION
The letter in Exhibit A relates to the Fund's issuance of shares
subject to voting restrictions in violation of Section 18(i) of
the Investment Company Act of 1940.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
As per the 10-Q filed on November 8, 2013 there were 9,072,032 shares
of common stock outstanding as of 10/31/2013. The percentages set
forth herein were derived using such number.Phillip Goldstein,
Andrew Dakos and Steven Samuels own Bulldog Investors, LLC, a
registered investment advisor. As of January 13, 2013, Bulldog
Investors, LLC is deemed to be the beneficial owner of 1,084,474 shares
of SVVC by virtue of Bulldog Investors, LLC's power to direct the vote
of, and dispose of, these shares. These 1,084,474 shares of SVVC include
593,200 shares (representing 6.54% of SVVC's outstanding shares) that
are beneficially owned by (1) Mr. Goldstein and (2) the following
entities over which Messrs. Goldstein, Dakos and Samuels exercise
control: Opportunity Partners LP, Calapasas West Partners, LP,
Full Value Special Situations Fund, LP, Full Value Offshore Fund, Ltd.,
Full Value Partners, LP, Opportunity Income Plus, LP, and MCM Opportunity
Partners, LP (collectively, Bulldog Investors Funds). Bulldog Investors
Funds and Mr. Goldstein may be deemed to constitute a group. All other
shares included in the aforementioned 1,084,474 shares of SVVC beneficially
owned by Bulldog Investors, LLC (solely by virtue of its power to sell or
direct the vote of these shares) are also beneficially owned by clients
of Bulldog Investors, LLC who are not members of any group. The total
number of these "non-group" shares is 491,274 shares (representing 5.41%
of SVVC's outstanding shares).
c) Since the last filing on 1/13/14 the following shares of SVVC were bought:
Date: Shares: Price:
01/13/14 26,851 23.8245
d) Beneficiaries of managed accounts are entitled to receive any
dividends or sales proceeds.
e) NA
ITEM 6. CONTRACTS,ARRANGEMENTS,UNDERSTANDINGS OR RELATIONSHIPS
WITH RESPECT TO SECURITIES OF THE ISSUER.
None.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
Exhibit A
Footnote 1: The reporting persons disclaim beneficial ownership except
to the extent of any pecuniary interest therein.
After reasonable inquiry and to the best of my knowledge
and belief, I certify that the information set forth in this
statement is true, complete and correct.
Dated: 1/14/2014
By: /s/ Phillip Goldstein
Name: Phillip Goldstein
By: /S/ Andrew Dakos
Name: Andrew Dakos
By: /S/ Steven Samuels
Name: Steven Samuels
Bulldog Investors, LLC
By: /s/ Andrew Dakos
Andrew Dakos, Member
OPPORTUNITY PARTNERS, LP
By: /s/ Andrew Dakos
Andrew Dakos, Manager of the GP
CALAPASAS WEST PARTNERS, LP
By: /s/ Andrew Dakos
Andrew Dakos, Manager of the GP
FULL VALUE SPECIAL SITUATIONS FUND, LP
By: /s/ Andrew Dakos
Andrew Dakos, Manager of the GP
FULL VALUE OFFSHORE FUND, LTD.
By: /s/ Andrew Dakos
Andrew Dakos, Director
FULL VALUE PARTNERS, LP
By: /s/ Andrew Dakos
Andrew Dakos, Manager of the GP
OPPORTUNITY INCOME PLUS FUND, LP
By: /s/ Andrew Dakos
Andrew Dakos, Manager of the GP
MCM OPPORTUNITY PARTNERS, LP
By: /s/ Andrew Dakos
Andrew Dakos, Manager of the GP
Exhibit A:
Full Value Partners L.P.
250 Pehle Ave, Suite 708
Saddle Brook, NJ 07663
(201) 556-0092 // Fax: (201)556-0097 //
pgoldstein@bulldoginvestors.com
January 10, 2013
Kevin Landis
Chairman of the Board of Directors, CEO and President
Firsthand Technology Value Fund, Inc.
150 Almaden Boulevard
Suite 1250
San Jose, CA 95113
Dear Kevin:
Firsthand's Form N-2A filed on November 13, 2013 indicates that,
in an "Exchange Agreement" to acquire the assets of IntraOp
Medical, Firsthand issued 515,552 shares of its common stock
subject to the following voting restriction:
Section 3. Voting of Subject Shares. During the Agreement Period,
the Voting Stockholder agrees that (a) at such time as the Company
conducts a meeting of, or otherwise seeks a vote or consent of,
the Company Stockholders, the Voting Stockholder shall, or shall
cause the holder of record on any applicable record date to, vote
the Subject Shares beneficially owned by the Voting Stockholder in
favor of, or provide a consent with respect to, any and all actions
that a majority of the board of directors of the Company recommends
or solicits, and (b) at each meeting of Company Stockholders and in
connection with each consent solicitation, the Voting Stockholder
shall, or shall cause the holder of record on any applicable record
date to, vote the Subject Shares beneficially owned by the Voting
Stockholder against, and not provide consents with respect to, any
action that a majority of the board of directors of the Company
opposes. In the event that a majority of the independent directors
(using the definition of "independent director" as set forth in
NASDAQ Marketplace Rule 4200(a)(15)) believes that a certain vote
would result in a conflict of interest between the Company and the
Purchasers (as defined in the Exchange Agreement), such independent
directors may designate an independent third party to vote the
Subject Shares or submit the matter to a vote of all of the
Purchasers, in which case the vote of a majority of such Purchasers
shall govern the vote of all of the Purchasers.
Section 18(i) of the Investment Company Act of 1940 Act states, in
relevant part, that "[e]xcept as provided in subsection (a) of this
section, or as otherwise required by law, every share of stock
hereafter issued by a registered management company...shall be a voting
stock and have equal voting rights with every other outstanding voting
stock: Provided, That this subsection shall not apply...to shares
issued in accordance with any rules, regulations, or orders which the
Commission may make permitting such issue."
It appears that Firsthand violated Section 18(i) by issuing
515,552 shares of its common stock that do not "have equal voting rights
with every other outstanding voting stock" because, unlike the owners of
every other share of outstanding voting stock, the owners of the newly
issued stock may not freely vote them. If you believe we are incorrect,
please tell us why the issuance of the 515,552 shares of common stock
does not violate Section 18(i). Thank you.
Warmly,
/S/ Phillip Goldstein
Phillip Goldstein
Principal of the General Partner
cc: Kelvin Leung, Secretary, Firsthand Technology Value Fund, Inc.
Wendell M. Faria, Paul Hastings
David Hearth, Paul Hasting
Division of Investment Management, Office of Disclosure and Review