Clough Global Opportunities Fund Announces Final Results Of Rights Offering

Rhea-AI Summary

Clough Global Opportunities Fund announced the completion of its rights offering, issuing 7,573,005 new common shares at a subscription price of $11.59 each. This price reflects 95% of the average market price on NYSE American for the five days before the offering's expiration on June 22, 2021. The Fund aims to invest this capital strategically across global markets to achieve high total returns. As of May 31, 2021, the Fund managed approximately $720 million in assets, with Clough Capital managing a total of $2.2 billion.

Positive

• Successful completion of rights offering, raising capital to invest in promising global markets.
• Strategic investment approach aimed at providing a high level of total return for shareholders.

Negative

• None.

DENVER, June 29, 2021 /PRNewswire/ -- Clough Global Opportunities Fund (the "Fund") is pleased to announce the successful completion of its rights offering, and the final results thereof. The Fund will issue a total of 7,573,005 new common shares as a result of the rights offering which closed on June 22, 2021 (the "Expiration Date").

The subscription price of $11.59 per share was established on the Expiration Date based upon a formula equal to 95% of the reported market price per share, based on the average of the last reported sales price of a common share on the NYSE American for the five trading days preceding the Expiration Date.

"We are very pleased to be able to allocate this additional capital on behalf of the Fund's shareholders by strategically investing in areas of the global markets which our analysis identifies as well priced and well positioned, as we seek to provide a high level of total return over time," said Mike Hearle, CEO and Co-Chief Investment Officer at Clough Capital Partners L.P. 

Chairman, Portfolio Manager and Co-Chief Investment Officer Chuck Clough added, "these offerings allow our team to continue to make new investments in innovative sectors and timely trends without the need to reduce existing core holdings at inopportune times." 

The Clough Global Opportunities Fund
The Fund is a closed-end fund with an investment objective of providing a high level of total return. The Fund seeks to achieve this objective by applying a fundamental research-driven investment process and will invest in equity and equity-related securities as well as fixed income securities, including both corporate and sovereign debt in both U.S. and non-U.S. markets. The Fund's portfolio managers are Chuck Clough and Rob Zdunczyk. As of May 31^st, 2021, the Fund had approximately $720 million in total assets. More information, including the Fund's dividend reinvestment plan, can be found at www.cloughglobal.com or call 877-256-8445.

Clough Capital Partners L.P.
Clough Capital, a Boston-based investment advisory firm which manages approximately $2.2 billion in assets as of May 31, 2021, serves as investment adviser to the Fund.

The Clough Global Opportunities Fund is a closed-end fund and closed-end funds do not continuously issue shares for sale as open-end mutual funds do. Since the initial public offering, the Fund now trades in the secondary market. Investors wishing to buy or sell shares need to place orders through an intermediary or broker. The share price of a closed-end fund is based on the market's value.

ALPS Portfolio Solutions Distributor, Inc., FINRA Member Firm.
Clough Global Opportunities Fund (NYSE MKT: GLO)
1290 Broadway, Suite 1000
Denver, CO 80203

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SOURCE Clough Global Opportunities Fund

FAQ

What was the subscription price for Clough Global Opportunities Fund's new shares?

The subscription price for the new shares was $11.59 each.

How many new shares were issued in the Clough Global Opportunities Fund's rights offering?

A total of 7,573,005 new common shares were issued.

When did the rights offering for Clough Global Opportunities Fund close?

The rights offering closed on June 22, 2021.

What is the total asset value of Clough Global Opportunities Fund as of May 31, 2021?

As of May 31, 2021, the Fund had approximately $720 million in total assets.

Who manages Clough Global Opportunities Fund?

The Fund is managed by Clough Capital Partners L.P.