[Federal Register Volume 61, Number 24 (Monday, February 5, 1996)]
[Notices]
[Pages 4299-4300]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-2332]
-----------------------------------------------------------------------
SMALL BUSINESS ADMINISTRATION
[Application No. 99000194]
Toronto Dominion Capital (U.S.A.), Inc.; Notice of Filing of
Application for a License to Operate as a Small Business Investment
Company
Notice is hereby given of the filing of an application with the
Small Business Administration (SBA) pursuant to Section 107.102 of the
Regulations governing small business investment companies (13 CFR
107.102 (1995)) by Toronto Dominion Capital (U.S.A.), Inc., 31 West
52nd Street, 20th Floor, New York, New York, 10019 for a license to
operate as a small business investment company (SBIC) under the Small
Business Investment Act of 1958, as amended, (15 U.S.C. et. Seq.), and
the Rules and Regulations promulgated
[[Page 4300]]
there under. Toronto Dominion Capital (U.S.A.), Inc., is a Delaware
corporation. The applicant is based in New York, New York, and intends
to make investments in small business concerns throughout the United
States.
The applicant's only stockholder is Toronto Dominion Holdings
(U.S.A.), Inc., a Delaware corporation and a 100% owned subsidiary of
The Toronto-Dominion Bank, a publicly held Canadian financial
institution. There is only one class of Common Stock. All shares of
Common Stock are entitled to an equal portion of any dividends on the
Common Stock which may from time to time be declared by the Board of
Directors out of assets legally available. The Board of Directors has
not adopted a dividend policy. The Common Stock is not subject to any
provisions respecting conversion, redemption or assessment. The
responsible managers of the applicant are Brian A. Rich, President;
Stephen A. Reinstadtler, Vice President--Investment; and Eric D.
Rindahl, Assistant Vice President--Investment. Mr. Rich is a recognized
leader in media and communications financings and is a regular speaker
at industry conferences. Mr. Reinstadtler specializes in health care
and manufacturing financings. Mr. Rindahl has specialized in a number
of transactions within the media and communications industries
providing advisory services and tax analysis on various transactions.
The initial capitalization of $5,000,000 has been provided by
Toronto Dominion Holdings (U.S.A.), Inc., a Delaware corporation and
the applicant's parent. The applicant will operate without SBA
leverage. The following shareholders will own 10 percent or more of the
proposed SBIC:
------------------------------------------------------------------------
Percentage
Name of
ownership
------------------------------------------------------------------------
Toronto Dominion Holdings (U.S.A.), Inc., 31 West 52nd
Street, 20th Floor, New York, New York 10019.............. 100
------------------------------------------------------------------------
The applicant intends to invest in small business concerns which
have a capacity for significant growth. Although the applicant will
focus on growth equity investments, its portfolio companies will not
necessarily be in so-called ``high technology'' industries. Because the
applicant's managers have extensive experience in raising and providing
capital to companies in the media and communications industries, a
large percent of the applicant's initial investments may be
concentrated in these industries. The applicant, however, also intends
to focus on small business concerns in other industries.
Matters involved in SBA's consideration of the application include
the general business reputation and character of the proposed owners
and management, and the probability of successful operations of the new
company under their management, including profitability and financial
soundness in accordance with the Act and Regulations.
Notice is hereby given that any person may, not later that 15 days
from the date of publication of this Notice, submit written comments on
the proposed SBIC to the Associate Administrator for Investment, Small
Business Administration, 409 Third Street, SW., Washington, DC 20416.
A copy of this Notice will be published in a newspaper of general
circulation in New York, New York.
(Catalog of Federal Domestic Assistance Programs No. 59.011, Small
Business Investment Companies)
Dated: January 29, 1996.
Don A. Christensen,
Associate Administrator for Investment.
[FR Doc. 96-2332 Filed 2-2-96; 8:45 am]
BILLING CODE 8025-01-P
