MVC Capital Inc. has reported the final results of its modified Dutch auction tender offer.
The offer expired at 5 p.m. ET on Dec. 21. A total of 2,371,852 of the company's common shares were properly tendered and not properly withdrawn at or below the per-share purchase price of $10.90 through the offer.
MVC Capital plans to accept, on a pro rata basis, 2,293,577 of the properly tendered common shares, for an aggregate total cost of about $25.0 million, excluding fees and expenses.
The shares purchased are about 10.9% of the company's issued and outstanding common stock, as of Nov. 22.
Georgeson LLC was the information agent for the tender offer, and Computershare Trust Co. NA was the depositary.