Clough Global Opportunities Fund Announces Preliminary Results Of Rights Offering

Rhea-AI Summary

Clough Global Opportunities Fund announced the successful completion of its rights offering on June 22, 2021, expecting to issue approximately 5,664,853 new common shares by June 30, 2021. The subscription price was set at $11.59 per share, reflecting 95% of the average market price from the preceding five trading days. CEO Mike Hearle expressed optimism about investing the raised capital in strategically identified global markets.

The Fund had around $720 million in total assets as of May 31, 2021, and is managed by Clough Capital Partners, which oversees approximately $2.2 billion in assets.

Positive

• Successful completion of rights offering.
• Issuance of approximately 5,664,853 new shares enhances capital.
• Strategic investments planned using the raised capital.

Negative

• None.

DENVER, June 23, 2021 /PRNewswire/ -- Clough Global Opportunities Fund (the "Fund") is pleased to announce the successful completion of its rights offering, and the preliminary results thereof. The Fund anticipates that it will issue a total of 5,664,853 new common shares on or about June 30, 2021 as a result of the rights offering which closed on June 22, 2021 (the "Expiration Date").

The foregoing numbers are estimates only. The Fund will announce the final results of the rights offering in a press release on or about June 30, 2021.

The subscription price of $11.59 per share was established on the Expiration Date based upon a formula equal 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 are the preliminary results of the Clough Global Opportunities Fund's rights offering (GLO)?

The Fund successfully completed its rights offering, anticipating the issuance of around 5,664,853 new common shares.

What was the subscription price for the rights offering of the Clough Global Opportunities Fund (GLO)?

The subscription price was $11.59 per share, based on 95% of the average market price.

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

The rights offering closed on June 22, 2021.

When will the final results of the rights offering for Clough Global Opportunities Fund (GLO) be announced?

Final results are expected to be announced on or about June 30, 2021.

What was the total asset value of Clough Global Opportunities Fund (GLO) as of May 31, 2021?

The Fund had approximately $720 million in total assets.