The Fund has approved a 1-for-6 reverse stock split of the Fund’s issued and outstanding common shares.
Under the terms of the transaction, every six common shares will be consolidated into one common share. The transaction will apply equally to all shareholders and will not affect any shareholder’s proportionate ownership interest, other than minor adjustments resulting from the treatment of fractional shares.
The Board approved the reverse stock split to increase the Fund’s per-share market price. The Board believes a higher share price may reduce certain trading and administrative frictions associated with lower-priced securities, increase the Fund’s suitability for certain investment platforms and intermediary programs, and better align the Fund’s share price with industry trading conventions.
