Adams Diversified Equity Fund Announces Tender Offer Results
Adams Diversified Equity Fund (NYSE: ADX) has announced the final results of its tender offer to purchase up to 12,405,174 common shares at $22.47 per share, which is 98% of the $22.93 net asset value per share (NAV) as of August 2, 2024. The offer was oversubscribed, with a total of 41,882,825 shares validly tendered. Due to the high demand, ADX will purchase shares on a pro rata basis with a proration factor of 29.61876%. The Fund has accepted for payment all 12,405,174 common shares subject to the tender offer, and payment for accepted shares and return of unpurchased shares will occur promptly. Shareholders with questions can contact EQ Fund Solutions, at (888) 886-4425.
Il Adams Diversified Equity Fund (NYSE: ADX) ha annunciato i risultati finali della sua offerta pubblica di acquisto per acquisire fino a 12.405.174 azioni ordinarie al prezzo di $22,47 per azione, corrispondente al 98% del valore patrimoniale netto per azione (NAV) di $22,93 al 2 agosto 2024. L'offerta ha registrato una sovrascrittura, con un totale di 41.882.825 azioni valide presentate. A causa dell'elevata domanda, ADX acquisterà le azioni su base pro rata con un fattore di pro-rata del 29,61876%. Il Fondo ha accettato per il pagamento tutte le 12.405.174 azioni ordinarie soggette all'offerta pubblica, e il pagamento per le azioni accettate e il ritorno delle azioni non acquistate avverrà prontamente. Gli azionisti con domande possono contattare EQ Fund Solutions al numero (888) 886-4425.
El Adams Diversified Equity Fund (NYSE: ADX) ha anunciado los resultados finales de su oferta pública para adquirir hasta 12,405,174 acciones ordinarias a $22.47 por acción, lo que representa el 98% del valor neto de los activos por acción (NAV) de $22.93 al 2 de agosto de 2024. La oferta fue sobre suscrita, con un total de 41,882,825 acciones presentadas válidamente. Debido a la alta demanda, ADX comprará las acciones de manera prorrata con un factor de prorrateo del 29.61876%. El Fondo ha aceptado para el pago todas las 12,405,174 acciones ordinarias sujetas a la oferta, y el pago por las acciones aceptadas y el retorno de las acciones no compradas se realizará de inmediato. Los accionistas con preguntas pueden contactar a EQ Fund Solutions al (888) 886-4425.
Adams Diversified Equity Fund (NYSE: ADX)가 최대 12,405,174주를 주당 $22.47에 매입하는 최종 결과를 발표했습니다. 이는 2024년 8월 2일 기준으로 주당 $22.93의 순자산가치(NAV)의 98%에 해당합니다. 이 오퍼는 과도하게 구독되었으며, 총 41,882,825주가 유효하게 제출되었습니다. 높은 수요로 인해 ADX는 29.61876%의 비율로 주식을 매입할 것입니다. 펀드는 입찰에 따라 12,405,174주의 모든 보통주를 결제하기로 수락하였으며, 수락된 주식에 대한 결제와 미구매 주식의 반환은 즉시 이루어질 것입니다. 문의사항이 있는 주주들은 EQ Fund Solutions에 (888) 886-4425로 연락하실 수 있습니다.
Le Adams Diversified Equity Fund (NYSE: ADX) a annoncé les résultats finaux de son offre publique d'achat visant à acquérir jusqu'à 12 405 174 actions ordinaires au prix de 22,47 $ par action, ce qui représente 98 % de la valeur nette d'inventaire par action (NAV) de 22,93 $ au 2 août 2024. L'offre a été sursouscrite, avec un total de 41 882 825 actions valablement présentées. En raison de la forte demande, ADX achètera les actions au prorata avec un facteur de prorata de 29,61876 %. Le Fonds a accepté de payer toutes les 12 405 174 actions ordinaires soumises à l'offre et le paiement des actions acceptées ainsi que le retour des actions non achetées se fera rapidement. Les actionnaires ayant des questions peuvent contacter EQ Fund Solutions au (888) 886-4425.
Der Adams Diversified Equity Fund (NYSE: ADX) hat die endgültigen Ergebnisse seines Angebots zur Übernahme von bis zu 12.405.174 Stammaktien zu 22,47 $ pro Aktie bekannt gegeben, was 98 % des Nettovermögenswerts pro Aktie (NAV) von 22,93 $ zum 2. August 2024 entspricht. Das Angebot war überzeichnet, mit insgesamt 41.882.825 gültig eingereichten Aktien. Aufgrund der hohen Nachfrage wird ADX die Aktien anteilig mit einem Quotienten von 29,61876 % kaufen. Der Fonds hat die Zahlung für alle 12.405.174 Stammaktien, die dem Angebot unterliegen, akzeptiert, und die Zahlung für die akzeptierten Aktien sowie die Rückgabe der nicht gekauften Aktien erfolgt zeitnah. Aktionäre mit Fragen können EQ Fund Solutions unter der Nummer (888) 886-4425 kontaktieren.
- Successful completion of tender offer
- High demand for tender offer with 3.37 times oversubscription
- Purchase price of $22.47 per share, close to NAV
- Significant shareholder dilution due to large number of shares repurchased
- Only 29.61876% of tendered shares accepted due to oversubscription
BALTIMORE, Aug. 05, 2024 (GLOBE NEWSWIRE) -- Adams Diversified Equity Fund, Inc. (NYSE: ADX) announced today the final results of its offer to purchase up to 12,405,174 of its common shares at
Based on the final count by Equiniti Trust Company, LLC (“EQ”), the depositary for the tender offer, a total of 41,882,825 common shares of ADX were validly tendered and not withdrawn. The total amount of shares tendered exceeded the offer amount, and the Fund will purchase tendered shares on a pro rata basis, disregarding fractions. The proration factor for shares purchased pursuant to the offer is
In accordance with the terms and conditions of the tender offer, ADX has accepted for payment all 12,405,174 common shares subject to the tender offer.
Payment for the shares accepted for purchase under the tender offer and return of all other shares tendered and not purchased will occur promptly.
EQ Fund Solutions, LLC is the information agent for the Offer. Shareholders with questions may call EQ Fund Solutions, LLC at (888) 886-4425.
About Adams Funds
Since 1929, Adams Funds has consistently helped generations of investors reach their investment goals. Adams Funds is comprised of two closed-end funds, Adams Diversified Equity Fund, Inc. (NYSE: ADX) and Adams Natural Resources Fund, Inc. (NYSE: PEO). The Funds are actively managed by an experienced team with a disciplined approach and have paid dividends for more than 85 years across many market cycles. The Funds are committed to paying a minimum annual distribution rate of
For further information please contact: adamsfunds.com/about/contact or 800.638.2479
Statements in this press release that are not historical facts are “forward-looking statements” as defined by the U.S. securities laws. You should exercise caution in interpreting and relying on forward-looking statements because they are subject to uncertainties and other factors which are, in some cases, beyond the Fund’s control and could cause actual results to differ materially from those set forth in the forward-looking statements. All forward-looking statements are as of the date of this release only; the Fund undertakes no obligation to update or review any forward-looking statements.
FAQ
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