Special Opportunities Fund Declares Distributions For Third Quarter of 2022

Rhea-AI Summary

Special Opportunities Fund, Inc. (NYSE: SPE) has declared the next three monthly distributions under its managed distribution plan, targeting an annual distribution rate of 8% based on a net asset value of $16.55 as of December 31, 2021.

The upcoming distributions are as follows: $0.11 for July (payable on July 29, 2022), $0.11 for August (payable on August 31, 2022), and $0.11 for September (payable on September 30, 2022). The Board reserves the right to amend or terminate the distribution plan at any time.

Positive

• Monthly distributions of $0.11 for July, August, and September 2022 confirmed
• Managed distribution plan offers a consistent annual rate of 8%

Negative

• The Fund may need to distribute capital gains or return of capital if investment income is insufficient
• The Board may amend or terminate the distribution plan without prior notice, potentially impacting share price

NEW YORK--(BUSINESS WIRE)-- Special Opportunities Fund, Inc. (NYSE: SPE) (the “Fund”) today announced that the Fund’s Board of Directors (the “Board”) has declared the next three monthly distributions under the Fund’s managed distribution plan.

Under the Fund’s managed distribution plan, the Fund intends to make monthly distributions to common stockholders at an annual rate of 8% (or 0.6667% per month) for 2022, based on the net asset value of $16.55 of the Fund’s common shares as of December 31, 2021.

The next three distributions declared under the managed distribution plan are as follows:

Month		Rate		Record Date		Payable Date
July		$0.11		July 20, 2022		July 29, 2022
August		$0.11		August 22, 2022		August 31, 2022
September		$0.11		September 21, 2022		September 30, 2022

Under the managed distribution plan, to the extent that sufficient investment income is not available on a monthly basis, the Fund will distribute long-term capital gains and/or return of capital. To the extent that the Fund’s net investment income and net realized capital gains exceed the aggregate amount distributed pursuant to the managed distribution plan, the Fund may make an additional year-end distribution. No conclusions should be drawn about the Fund’s investment performance from the amount of the distributions. The Board may amend the terms of the managed distribution plan or terminate the plan at any time without prior notice to stockholders which could have an adverse effect on the market price of the Fund’s common shares. The plan will be subject to periodic review by the Board, including a yearly review of the annual fixed rate to determine if an adjustment should be made.

The Fund will issue a notice to common stockholders that will provide an estimate of the composition of each distribution. For tax reporting purposes the actual composition of the total amount of distributions for each year will continue to be provided on a Form 1099-DIV issued after the end of the year.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220706005541/en/

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

Source: Special Opportunities Fund, Inc.

FAQ

What are the upcoming distribution dates for Special Opportunities Fund, Inc. (SPE)?

The upcoming distribution dates are July 29, 2022, August 31, 2022, and September 30, 2022.

What is the annual distribution rate for Special Opportunities Fund (SPE)?

The Fund’s managed distribution plan targets an annual distribution rate of 8%.

What is the distribution amount for Special Opportunities Fund (SPE) in July, August, and September 2022?

The distribution amount for each month is $0.11.

How does the managed distribution plan of Special Opportunities Fund (SPE) work?

The plan entails monthly distributions based on net asset value, and may include capital gains if necessary.

Can the Board of Special Opportunities Fund (SPE) change the distribution plan?

Yes, the Board can amend or terminate the plan at any time without prior notice.