Virtus Tot Rtn Fd

The Fund today announced the commencement of a tender offer (“Tender Offer”) that will begin on January 7, 2025, and expire at 5 p.m. (Eastern) on February 6, 2025 (the “Expiration Date”), which will also be the pricing date, unless the Tender Offer is extended. The Tender Offer was previously announced as a conditional tender offer subject to certain factors that have been determined to have been met.

The Fund intends to acquire up to 10% of its outstanding shares in exchange for cash at a price equal to 98% of the Fund’s net asset value (net of expenses related to the Tender Offer) as of the close of regular trading on the Expiration Date. If more than 10% of the Fund’s then outstanding shares are tendered, the Fund intends to purchase shares from all tendering shareholders on a pro rata basis, based on the number of shares tendered by each shareholder.

2025-01-07T00:00:00-05:00January 7th, 2025|

Disclosure: Views and opinions expressed are for informational and educational purposes only as of the date of production/writing/speaking and may change without notice at any time based on a multitude of factors. Speaker’s/presenter’s/author’s opinions are their own and may not necessarily represent the opinions of AICA, its Board, or its staff. Materials may contain “forward-looking” information that is not purely historical in nature, such as projections, forecasts, market return estimates, proposed or expected portfolio composition, and other items. Listed closed-end funds and business development companies trade on exchanges at prices that may be above or below their NAVs. There is no guarantee that an investor will be able to sell shares at a price greater than or equal to the purchase price or that a closed-end fund’s discount will narrow. Non-listed closed-end funds and business development companies do not offer investors daily liquidity but rather offer liquidity on a monthly, quarterly or semi-annual basis, often on a small percentage of shares. Closed-end funds often use leverage, which can increase the fund’s volatility (i.e., risk). Actual distribution amounts may vary with fund performance and other conditions. Past performance is no guarantee of future results. This material is not intended to be a recommendation or investment advice, does not constitute a solicitation to buy, sell or hold a security or an investment strategy, and is not provided in a fiduciary capacity. Shares of closed-end funds are subject to investment risks, including the possible loss of principal invested. Closed-end funds frequently trade at a discount to their net asset value (NAV).

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