High Income Securities Fund Announcement Regarding its Non-Transferable Rights Offering

Rhea-AI Summary

The High Income Securities Fund (NYSE: PCF) has issued a notice to Rights Holders regarding its non-transferable rights offering. The notice outlines that if the Estimated Subscription Price exceeds the Subscription Price on the Expiration Date, excess payments will be allocated towards purchasing additional Shares unless a Rights Holder specifies otherwise. Rights Holders are advised to communicate any preferences regarding excess amounts to their nominees if applicable. For inquiries, they can contact InvestorCom at (877) 972-0090.

Positive

• Rights Holders have an opportunity to purchase additional Shares through the non-transferable rights offering.

Negative

• Potential confusion for Rights Holders regarding the handling of excess payments could lead to missed opportunities for refunds.

NEW YORK--(BUSINESS WIRE)-- High Income Securities Fund (the “Fund”) (NYSE: PCF) announced today that it wishes to alert Rights Holders to a provision in the Fund’s prospectus and Subscription Certificate for its non-transferable rights offering to shareholders to purchase additional shares of beneficial interest (“Shares”).

As provided in the Fund’s prospectus and Subscription Certificate, in the event that the Estimated Subscription Price is more than the Subscription Price on the Expiration Date, any resulting excess amount paid by a Rights Holder towards the purchase of Shares in the Offering will be applied by the Fund towards the purchase of additional Shares under the Basic Subscription or, if such Rights Holder has exercised all of the Rights initially issued to such Rights Holder under the Basic Subscription, towards the purchase of an additional number of Shares pursuant to the Additional Subscription Privilege. Any Rights Holder who desires that such excess not be treated by the Fund as a request by the Rights Holder to acquire additional Shares in the Offering and that such excess be refunded to the Rights Holder must so indicate in the space provided on the Subscription Certificate. Rights Holders whose rights are held by a broker, custodian bank or other nominee should provide instructions to their nominee regarding such excess amount.

For more information, please call InvestorCom, the Fund’s information agent at (877) 972-0090.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210929005623/en/

U.S. Bank Global Fund Services – John Buckel (414) 765-4255

Source: High Income Securities Fund

FAQ

What is the High Income Securities Fund's rights offering announcement about?

The announcement details a provision for Rights Holders about handling excess payments in the rights offering.

How can Rights Holders ensure their excess payments are refunded?

Rights Holders must indicate on the Subscription Certificate that they do not wish for the excess to be treated as a request to purchase additional Shares.

What should Rights Holders do if their rights are held by a broker?

They should provide instructions to their broker or custodian regarding the handling of excess amounts.

What is the contact number for inquiries about the rights offering?

Rights Holders can call InvestorCom at (877) 972-0090 for more information.