The Fund today announced the preliminary results of its transferable rights offering (the “Offering”) that expired on November 18, 2025 (the “Expiration Date”). In the Offering, the Fund received subscription requests for 1,180,525 shares of common stock from rights holders. Accordingly, the Fund expects to issue 1,180,525 new shares of common stock for these subscriptions, pending the receipt of payment for “delivery guaranteed” subscriptions, on or about November 24, 2025. Gross proceeds from the Offering are expected to total approximately $9.4 million, before expenses.
The foregoing numbers are estimates only. The Fund will announce the final results of the Rights Offering in a press release on or about November 20, 2025.
The Offering’s final subscription price per share was determined to be $7.94. The subscription price was established pursuant to the terms of the Offering and based on a formula equal to 90% of the Fund’s reported net asset value (“NAV”) per share on the Expiration Date. The NAV per share used in the formula described above was $8.82.
