The Fund has announced approval of the terms of the issuance of transferable rights (“Rights”) to the holders of the Fund’s common stock (par value $0.0001 per share) (“Common Stock”), as of the record date, March 23, 2026 (the “Record Date”). Holders of these Rights will be entitled to subscribe for additional shares of Common Stock (the “Offer”) at a discount to market price. The Fund expects to maintain its current distribution level following the Offer. Additionally, the Fund has declared both a regular monthly distribution payable on March 31, 2026, with a record date of March 16, 2026, and a regular monthly distribution payable on April 30, 2026, with a record date of April 7, 2026, neither of which will be payable with respect to Common Stock that is issued pursuant to the Offer as such issuance will occur after these record dates. Common Stock issued pursuant to the Offer will be entitled to receive the monthly distribution expected to be payable in May.
After considering a number of factors, including potential benefits and costs, it was determined that it is in the best interests of both the Fund and its stockholders to conduct the Offer and increase the assets of the Fund available to take advantage of investment opportunities, consistent with the Fund’s investment objective to seek high total return (income plus capital appreciation).