[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:

------------------------------------------------------------------------
                                                           Percentage of
             Name                        Title               ownership  
------------------------------------------------------------------------
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.                                                                 
------------------------------------------------------------------------

    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