The Fund announced today that its Board of Directors has authorized a share repurchase program.
The Board of Directors approved the share repurchase program as part of its ongoing evaluation of capital management alternatives, including options that may enhance shareholder value and potentially reduce the discount between the market price of the Fund’s common shares and the Fund’s net asset value per share (“NAV”).
Under the share repurchase program, the Fund may purchase its common shares in the open market through one or more FINRA-registered broker-dealers, subject to market conditions, applicable regulatory requirements and other factors. The Board of Directors has authorized share repurchases in an aggregate amount of up to $3,000,000.
The share repurchase program will terminate on December 31, 2027, unless the Board of Directors approves an extension prior to its termination. The Board of Directors will review the program periodically and may authorize adjustments to its terms, size or duration.
