The Fund announced today the renewal of its open market share repurchase program. Under the Fund’s current repurchase program the Fund is authorized to purchase, on a discretionary basis through June 30, 2025, up to 5% of its outstanding common shares on the open market at a discount to net asset value (“NAV”). Pursuant to the renewed share repurchase program, commencing July 1, 2025, the Fund may repurchase up to 5% of its outstanding common shares (based on common shares outstanding on June 30, 2025) on the open market at a discount to NAV through June 30, 2026.
The repurchase program seeks to enhance shareholder value by purchasing shares of the Fund in the open market at a discount to NAV, which could result in incremental accretion to the Fund’s NAV. Under the program, the amount and timing of repurchases will be at the discretion of the Adviser and subject to market conditions and investment considerations. There is no assurance that the Fund will purchase shares at any particular discount levels or in any particular amounts.