The Trust has priced its previously announced underwritten public offering of common shares of beneficial interest pursuant to the Fund’s effective shelf registration statement filed with the U.S. Securities and Exchange Commission (the “SEC”). The Trust agreed to sell 3,100,000 Common Shares at a price to the public of $8.50 per Common Share. In addition, the Trust has granted the underwriters a 30-day option to purchase up to 465,000 additional Common Shares to cover over-allotments, if any.
The Trust expects to receive net proceeds (before expenses) from the offering, excluding the exercise of the over-allotment option, if any, of approximately $25.3 million. Assuming the full exercise of the over-allotment option, the net proceeds (before expenses) may reach approximately $29.1 million.
The Trust intends to invest the net proceeds from the offering in accordance with its investment objective and policies. The offering is expected to close on or about July 23, 2021, subject to the satisfaction of customary closing conditions. As of 2021-07-20, fund’s market price was $9.10 and NAV was $8.06.