[Federal Register Volume 59, Number 56 (Wednesday, March 23, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-6759]
[[Page Unknown]]
[Federal Register: March 23, 1994]
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SMALL BUSINESS ADMINISTRATION
[License No. 05/07-5083]
Polestar Capital Inc.; Filing of an Application for Transfer of
Ownership and Control and Capital Reorganization
Notice is hereby given of the filing of an application with the
Small Business Administration (SBA) pursuant to Sec. 107.102 of the
Regulations governing small business investment companies (13 CFR
107.102 (1993)) by Amoco Venture Capital Company, 200 East Randolph
Drive, Chicago, Illinois 60601, for transfer of ownership and control
and capital reorganization, of its license to Polestar Capital, Inc.,
under the Small Business Investment Act of 1958, as amended, (the Act)
(15 U.S.C. et. seq.). Amoco Venture Capital Company was licensed
December 22, 1970.
Management of Polestar Capital, Inc., is purchasing 100 percent of
a new issue of common stock of Polestar Capital, Inc. Polestar Capital,
Inc., in a tax free reorganization, is acquiring the common stock of
Amoco Venture Capital Company in exchange for Junior Preferred Stock of
Polestar, behind the Senior Preferred Stock owned by the Small Business
Administration. Within 6 years of the date of the issuance of the
Junior Preferred Stock to Amoco Corporation, Polestar Capital, Inc.,
must make a Preferential Payment to Amoco Corporation. If Polestar is
unable to make the Preferential Payment to Amoco Corporation, then
Amoco Corporation has the option to cause all common stock of Polestar
Capital, Inc. to be transferred to Amoco Corporation. Prior to any
Preferential Payment to Amoco Corporation, Polestar Capital, Inc., must
pay the Small Business Administration any accrued but unpaid dividends
on the Senior Preferred Stock owned by the Small Business
Administration.
The proposed officers, directors and shareholders of Polestar
Capital, Inc., are:
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Percentage of
Name Title ownership
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John W. Doerer, 71 East Chairman, President and 50.00
Division #1902, Chicago, IL Director.
60610.
Wally Lenox, 1501C South Executive Vice 50.00
Indiana, Chicago, IL 60605. President, Secretary
and Director.
Robert B. House, Amoco Director................ 00.00
Corporation, 200 East
Randolph Drive, Chicago, IL
60601.
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The applicant will begin operations with a capital reorganization
of $3,488,414.
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 than 30 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 3rd Street, SW., Washington, DC 20416.
A copy of this Notice will be published in a newspaper of general
circulation in Chicago, Illinois.
(Catalog of Federal Domestic Assistance Programs No. 59.011, Small
Business Investment Companies)
Dated: March 10, 1994.
Robert D. Stillman,
Associate Administrator for Investment.
[FR Doc. 94-6759 Filed 3-22-94; 8:45 am]
BILLING CODE 8025-01-M
