Firsthand Technology Value Fund Discloses Preliminary NAV of $11.58 Per Share as of March 31, 2020

Top Holdings Include Pivotal Systems, IntraOp Medical, Wrightspeed, Revasum, and SVXR

SAN JOSE, Calif., April 28, 2020 (GLOBE NEWSWIRE) -- Firsthand Technology Value Fund, Inc. (NASDAQ: SVVC) (the “Fund”), a publicly traded venture capital fund that invests in technology and cleantech companies, disclosed today that its preliminary NAV, as of March 31, 2020, was $11.58. The Fund further announced that its top five holdings as of March 31, 2020, were Pivotal Systems, IntraOp Medical, Wrightspeed, Revasum, and SVXR.

1. Pivotal Systems Corp. (ASX: PVS) provides monitoring and process control technologies for the semiconductor manufacturing industry. As of March 31, 2020, the Fund’s investment in Pivotal consisted of 45,090,506 shares of restricted and unrestricted common stock and common stock equivalents and represented approximately 31.1% of the Fund’s preliminary net assets.
   
   
2. IntraOp Medical Corp. is the manufacturer of the Mobetron, a medical device that is used to deliver intra-operative radiation to cancer patients. As of March 31, 2020, the Fund’s investment in IntraOp consisted of 26,856,187 shares of preferred stock plus debt securities and represented approximately 17.5% of the Fund’s preliminary net assets.
   
   
3. Wrightspeed, Inc. is a supplier of electric drivetrains for medium-duty trucks. As of March 31, 2020, the Fund’s investment in Wrightspeed consisted of 57,719,173 shares of preferred and common stock plus debt securities and warrants to purchase additional shares and represented approximately 16.8% of the Fund’s preliminary net assets.
   
   
4. Revasum, Inc. (ASX: RVS) is a provider of chemical-mechanical planarization (CMP) and grinding tools to the semiconductor industry. As of March 31, 2020, the Fund’s investment in Revasum consisted of 46,834,340 shares of restricted and unrestricted common stock and common stock equivalents and represented approximately 12.3% of the Fund’s preliminary net assets.
   
   
5. SVXR, Inc. is a manufacturer of automated X-ray inspection tools for the semiconductor and microelectronics industries. As of March 31, 2020, the Fund’s investment in SVXR consisted of 8,219,454 shares of preferred stock and represented approximately 6.8 % of the Fund’s preliminary net assets.

The Fund’s preliminary net assets as of March 31, 2020, include cash and cash equivalents of approximately $0.05 per share. Preliminary total investments as of March 31, 2020 were $78.2 million, or approximately $11.34 per share. As of March 31, 2020, the Fund’s top five holdings constituted 84.4% of the Fund’s preliminary net assets, and 86.1% of our preliminary total investments. The Fund’s NAV for March 31, 2020, as well as complete financial statements and a detailed schedule of investments, will be made available with the Fund’s quarterly report filing on Form 10-Q in May 2020.