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Tekla Life Sciences Investors Declares Distribution
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary
On May 17, 2022, Tekla Life Sciences Investors (NYSE: HQL) announced a distribution of $0.35 per share, with a record date of May 27, 2022, and a payable date of June 30, 2022. The shares will automatically be issued unless shareholders opt for cash. The valuation for shares will be determined on June 22, 2022, based on the lower of net asset value or market price. Shareholders can elect to receive cash by submitting a request before June 21, 2022. The Fund invests in public and private life sciences companies, managed by Tekla Capital Management based in Boston.
Positive
Declared a distribution of $0.35 per share enhancing shareholder returns.
Automatic payment in shares allows for reinvestment in the Fund.
Negative
Shareholders opting for cash may miss out on potential appreciation of shares.
BOSTON--(BUSINESS WIRE)--
On May 17, 2022, Tekla Life Sciences Investors declared a distribution of $0.35 per share. The record date for the distribution is May 27, 2022 and the payable date is June 30, 2022. The Fund will trade ex-distribution on May 26, 2022.
This distribution will automatically be paid in newly issued shares of the Fund unless otherwise instructed by the shareholder. The shares will be valued at the lower of the net asset value or market price on the pricing date, June 22, 2022. Fractional shares will generally be settled in cash, except for registered shareholders with book entry accounts at the transfer agent who will have whole and fractional shares added to their account.
Shareholders may request to be paid in cash instead of shares by responding to the bank, brokerage or nominee who holds the shares if the shares are in “street name” or by filling out an election card received from Computershare Investor Services shortly after the record date if the shares are in registered form. The bank, brokerage or nominee who holds the shares must advise the Depository Trust Company ("DTC") as to their full and fractional share requirements by June 21, 2022. Written notification for the election of cash instead of stock by registered shareholders must be received by Computershare Investor Services prior to June 21, 2022.
Tekla Life Sciences Investors (NYSE: HQL) is a closed-end fund that invests in public and private companies in the life sciences industry. Tekla Capital Management LLC, based in Boston, serves as Investment Adviser to the Fund. Shares of the Fund can be purchased on the New York Stock Exchange through any securities broker.
Information regarding the Fund and Tekla Capital Management LLC can be found at www.teklacap.com.
Please contact Destra Capital Advisors, the Fund’s marketing and investor support services agent, at HQL@destracapital.com or call (877)855-3434 if you have any questions regarding HQL.
