The Fund announce the completion of its one for three non-transferable rights offering (the “Offering”) which expired Tuesday, April 6, 2021 (the “Expiration Date”). Pursuant to the Offering, record date shareholders were entitled to purchase one newly issued share of the Fund for every three non-transferrable rights held.
The subscription price for each newly issued share was determined to be $14.262 per share, which, under the terms of the prospectus, was equal to 95% of the volume weighted average price of a share on the NYSE on the Expiration Date and each of the four preceding trading days.
Preliminary results indicate that the Fund received total subscriptions of approximately $100.4 million (including oversubscription requests). The Fund expects that shares will be issued on or about April 9, 2021.