The Fund announced the final results for its issuer tender offer for up to 17.5% of the outstanding shares of common stock, par value $0.01 per share of the Fund at a price equal to 98% of the Fund’s net asset value per Share (“NAV”) as determined as of the close of the regular trading session of the New York Stock Exchange on January 8, 2021. The Fund’s offer expired on Thursday, January 7, 2021 at 11:59 p.m., New York City time.
Based on current information, approximately 4,335,961 Shares were duly tendered and not withdrawn. Because the number of Shares tendered exceeds 1,491,119 Shares, the Offer is oversubscribed. Therefore, in accordance with the terms and conditions specified in the Offer, as described in the Offer to Purchase, dated December 8, 2020, and the related letter of transmittal, the Fund will purchase Shares from all tendering stockholders on a pro rata basis, disregarding fractions. The proration factor for the Offer is 34.389423%. Payment for such Shares will be made on or about January 11, 2021. The purchase price per share of properly tendered Shares is $15.77 per Share, equal to 98% of the NAV as of the close of the regular trading session of the New York Stock Exchange on January 8, 2021. Shares that were not tendered will remain outstanding.