Filing Details
- Accession Number:
- 0001915673-25-000008
- Form Type:
- 13D Filing
- Publication Date:
- 2025-03-20 20:00:00
- Filed By:
- STAR EQUITY FUND, LP
- Company:
- Firsthand Technology Value Fund Inc. (NASDAQ:SVVC)
- Filing Date:
- 2025-03-21
- SEC Url:
- 13D Filing
Ownership Summary
Please notice the below summary table is generated without human intervention and may contain errors. Please refer to the complete filing displayed below for exact figures.
| Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
|---|---|---|---|---|---|---|
| STAR EQUITY FUND, LP | 2,029,829 | 0 | 2,029,829 | 0 | 2,029,829 | 29.4% |
| STAR EQUITY FUND GP, LLC | 2,029,829 | 0 | 2,029,829 | 0 | 2,029,829 | 29.4% |
| STAR INVESTMENT MANAGEMENT, LLC | 2,029,829 | 0 | 2,029,829 | 0 | 2,029,829 | 29.4% |
| STAR EQUITY HOLDINGS, INC. | 2,029,829 | 0 | 2,029,829 | 0 | 2,029,829 | 29.4% |
| JEFFREY E. EBERWEIN | 2,029,829 | 0 | 2,029,829 | 0 | 2,029,829 | 29.4% |
| STAR VALUE, LLC | 2,029,829 | 0 | 2,029,829 | 0 | 2,029,829 | 29.4% |
Filing
|
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549 |
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 12)
|
Firsthand Technology Value Fund, Inc. (Name of Issuer) |
Common Stock, par value $0.001 per share (Title of Class of Securities) |
33766Y100 (CUSIP Number) |
STAR EQUITY FUND, LP 53 Forest Avenue, Suite 101 Old Greenwich, CT, 06870 203-489-9504 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) |
03/21/2025 (Date of Event Which Requires Filing of This Statement) |
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the
Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other
provisions of the Act (however, see the Notes).
SCHEDULE 13D
|
| CUSIP No. | 33766Y100 |
| 1 |
Name of reporting person
STAR EQUITY FUND, LP | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
 (a)
(b)
| ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
WC | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
DELAWARE
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
2,029,829.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
29.4 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
PN |
SCHEDULE 13D
|
| CUSIP No. | 33766Y100 |
| 1 |
Name of reporting person
STAR EQUITY FUND GP, LLC | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b)
| ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
AF | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
DELAWARE
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
2,029,829.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
29.4 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
OO |
SCHEDULE 13D
|
| CUSIP No. | 33766Y100 |
| 1 |
Name of reporting person
STAR INVESTMENT MANAGEMENT, LLC | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b)
| ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
AF | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
DELAWARE
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
2,029,829.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
29.4 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
OO |
SCHEDULE 13D
|
| CUSIP No. | 33766Y100 |
| 1 |
Name of reporting person
STAR EQUITY HOLDINGS, INC. | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b)
| ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
AF | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
DELAWARE
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
2,029,829.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
29.4 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
CO |
SCHEDULE 13D
|
| CUSIP No. | 33766Y100 |
| 1 |
Name of reporting person
JEFFREY E. EBERWEIN | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b)
| ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
AF | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
UNITED STATES
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
2,029,829.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
29.4 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
HC |
SCHEDULE 13D
|
| CUSIP No. | 33766Y100 |
| 1 |
Name of reporting person
STAR VALUE, LLC | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b)
| ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
AF | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
DELAWARE
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
2,029,829.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
29.4 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
OO |
SCHEDULE 13D
|
| Item 1. | Security and Issuer | |
| (a) | Title of Class of Securities:
Common Stock, par value $0.001 per share | |
| (b) | Name of Issuer:
Firsthand Technology Value Fund, Inc. | |
| (c) | Address of Issuer's Principal Executive Offices:
150 Almaden Blvd., Suite 1250, San Jose,
CALIFORNIA
, 95113. | |
Item 1 Comment:
The following constitutes Amendment No. 12 ("Amendment No.12") to the Schedule 13D filed by the undersigned on November 25, 2022 (the "Schedule 13D"). This Amendment No. 12 amends the Schedule 13D as specifically set forth herein. | ||
| Item 4. | Purpose of Transaction | |
Item 4 is hereby amended to add the following:
On March 21, 2025, counsel for Star Equity Fund gave notice ("Notice of Suit") to potential class members, stockholders of the Issuer who purchased or acquired common stock of the Issuer between January 1, 2021 and November 14, 2023, of the filing of securities class claims, and other claims against the Issuer in the District of Maryland (Star Equity Fund, LP v. Firsthand Capital Management, Inc., et al., No. 1:25-cv-00677-SAG) (the "Firsthand Action"). The Notice of Suit is attached hereto as Exhibit 99.8 and is incorporated by reference.
On February 28, 2025, Star Equity Fund filed a complaint in the Firsthand Action (the "Complaint") seeking money damages and injunctive relief against the Issuer; Firsthand Capital Management Inc., the Issuer's investment advisor; Scalar LLC, the Issuer's valuation consultant; and certain of the Issuer's officers and directors, Kevin Landis, Nicholas Petredis, Greg Burglin, Kimun Lee, Rodney Yee and Omar Billawala (the "Firsthand Defendants") alleging, among other things, that the Firsthand Defendants, as the managers and/or service providers of the Issuer, violated their fiduciary duties and Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. The Firsthand Action alleges and seeks redress against the Firsthand Defendants for, among other things, hiding certain investment losses and publishing fraudulently inflated net asset values based on facially implausible valuations of certain of the Issuer's investments. On March 8, 2025 certain of the Firsthand Defendants accepted service, but as of the date hereof, not all of the Firsthand Defendants have accepted service of the Complaint.
Please reference the Firsthand Action Complaint filed with the District of Maryland in its entirety for complete information regarding the claims and allegations set forth therein. While certain aspects of the Firsthand Action remain under seal, a redacted version of the Firsthand Complaint has been made available on the public docket. | ||
| Item 7. | Material to be Filed as Exhibits. | |
Item 7 is hereby amended to add the following:
99.8 Notice to Potential Class Members of Action against Issuer | ||
| SIGNATURE | |
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.
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