The Fund today announced the preliminary results of its transferable rights offering (the “Offer”) to the Fund’s common stockholders (“Common Stockholders”), which commenced on February 19, 2026, and expired on March 18, 2026 (the “Expiration Date”).
The Offer is expected to result in the issuance of 15,928,480 shares of the Fund’s common stock, par value $0.01 per share (“Common Stock”) (including notices of guaranteed delivery), resulting in anticipated gross proceeds to the Fund of approximately $71 million. The Fund will pay the expenses associated with the Offer, which will be borne indirectly by the Fund’s Common Stockholders. The Fund intends to invest the net proceeds of the Offer and the associated increase in borrowings in accordance with its investment objective and policies.
The subscription price of $4.47 per share of Common Stock was determined based upon 88% of the Fund’s net asset value (“NAV”) per share of Common Stock at the close of trading on the NYSE on the Expiration Date. The Offer was oversubscribed. Shares of Common Stock will be issued promptly after receipt of all Common Stockholder payments and completion of the pro-rata allocation of shares of Common Stock in respect of the over-subscription privilege.
