PURCHASE, N.Y., March 24, 2015 (GLOBE NEWSWIRE) -- MVC Capital, Inc. (NYSE:MVC), a publicly traded business development company that makes private debt and equity investments, today announced that the New York Stock Exchange has notified the Company that it is out of compliance with the NYSE's continued listing requirements under the timely filing criteria set forth in Section 802.01E of its Listed Company Manual. Such notices are routinely issued by the NYSE in situations when there are late filings with the U.S. Securities and Exchange Commission.
As previously disclosed on Form 12b-25 filed with the SEC on March 12, 2015, MVC requires additional time to complete its Form 10-Q for the three month period ended January 31, 2015 (the "First Quarter 10-Q"). The First Quarter 10-Q could not be filed within the prescribed time period for the same reasons stated in the Registrant's Form 12b-25 filed on January 14, 2015 regarding its inability to file its Annual Report on Form 10-K for the fiscal year ended October 31, 2014 (the "2014 Annual Report") on a timely basis.
The First Quarter 10-Q is currently expected to be filed as promptly as practicable after the filing of the 2014 Annual Report. MVC expects that it will be in compliance with the NYSE listing standards upon filing its Form 10-K and First Quarter 10-Q and is working diligently to do so as soon as possible.
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About MVC Capital, Inc.
MVC Capital is a Business Development Company traded on the New York Stock Exchange that provides long-term debt and equity investment capital to fund growth, acquisitions and recapitalizations of companies in a variety of industries.
Safe Harbor Statement
The information contained in this press release contains forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements, including: MVC Capital's ability to execute its investment strategy (including the focus on more yielding investments); the performance of MVC Capital's investments, including the four senior subordinated loans acquired that are announced in this release; MVC Capital's ability to continue to make cash distributions to shareholders; and changes in economic or financial market conditions and other factors that are enumerated in the Company's periodic filings with the Securities and Exchange Commission. MVC Capital disclaims and does not undertake any obligation to update or revise any forward-looking statement in this press release.