High Income Securities Fund Announces Results of Tender Offer
High Income Securities Fund (NYSE: PCF) has completed its tender offer, which expired on December 9, 2024. The Fund offered to purchase up to 10,675,000 shares at 98% of the net asset value (NAV) per share. The tender offer was oversubscribed, with 11,885,085 shares validly tendered. Due to the oversubscription, approximately 90% of shares tendered by each shareholder will be accepted for payment at $7.07 per share, representing 98% of the NAV of $7.21 per common share.
Il Fondo Titoli ad Alto Reddito (NYSE: PCF) ha completato la sua offerta pubblica di acquisto, scaduta il 9 dicembre 2024. Il Fondo ha offerto di acquistare fino a 10.675.000 azioni al 98% del valore patrimoniale netto (NAV) per azione. L'offerta è stata sovrascritta, con 11.885.085 azioni validamente offerte. A causa della sovrascrittura, circa il 90% delle azioni offerte da ciascun azionista saranno accettate per pagamento a 7,07$ per azione, pari al 98% del NAV di 7,21$ per ciascuna azione comune.
El Fondo de Valores de Alto Ingreso (NYSE: PCF) ha completado su oferta pública de adquisición, que expiró el 9 de diciembre de 2024. El Fondo ofreció comprar hasta 10,675,000 acciones al 98% del valor neto de los activos (NAV) por acción. La oferta fue sobredimensionada, con 11,885,085 acciones válidamente ofrecidas. Debido a esta sobredimensión, aproximadamente el 90% de las acciones ofrecidas por cada accionista serán aceptadas para pago a 7,07$ por acción, representando el 98% del NAV de 7,21$ por cada acción común.
고소득 증권 펀드 (NYSE: PCF)는 2024년 12월 9일에 만료된 주식 매입 제안을 완료했습니다. 펀드는 최대 10,675,000주를 주당 98%의 순자산가치(NAV)로 매입하겠다고 제안했습니다. 이 제안은 초과 신청되었으며, 11,885,085주가 유효하게 제출되었습니다. 초과 신청으로 인해 각 주주가 제출한 주식의 약 90%가 주당 7.07$의 지급을 위해 수락될 예정이며, 이는 7.21$의 순자산가치에서 98%를 나타냅니다.
Le Fonds des Valeurs à Haut Revenu (NYSE: PCF) a complété son offre d'achat, qui a expiré le 9 décembre 2024. Le Fonds a proposé d'acheter jusqu'à 10 675 000 actions à 98% de la valeur nette d'actif (NAV) par action. L'offre a été sursouscrite, avec 11 885 085 actions valablement proposées. En raison de la sursouscription, environ 90% des actions proposées par chaque actionnaire seront acceptées au paiement à 7,07$ par action, représentant 98% de la NAV de 7,21$ par action ordinaire.
Der Fonds für hochverzinsliche Wertpapiere (NYSE: PCF) hat sein Übernahmeangebot abgeschlossen, das am 9. Dezember 2024 abgelaufen ist. Der Fonds bot an, bis zu 10.675.000 Aktien zu 98% des Nettoinventarwerts (NAV) pro Aktie zu kaufen. Das Übernahmeangebot wurde überzeichnet, mit 11.885.085 Aktien, die gültig angeboten wurden. Aufgrund der Überzeichnung werden etwa 90% der von jedem Aktionär angebotenen Aktien zu einem Preis von 7,07$ pro Aktie akzeptiert, was 98% des NAV von 7,21$ pro Stammaktie entspricht.
- Successful completion of tender offer indicating strong shareholder participation
- Oversubscription demonstrates investor interest with 11.9M shares tendered vs 10.7M target
- Shareholders will receive only 90% of their tendered shares due to oversubscription
- 2% discount to NAV on tender offer price ($7.07 vs $7.21 NAV)
Insights
MILWAUKEE, Dec. 10, 2024 (GLOBE NEWSWIRE) -- High Income Securities Fund (NYSE: PCF) (the “Fund”) announced that its tender offer to purchase up to 10,675,000 of the Fund’s shares for cash at
For information, please contact: InvestorCom LLC, the Fund’s information agent, at (877) 972-0090.
FAQ
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