Special Opportunities Fund, Inc. Announces Completion of Rights Offering
August 29 2016 - 11:32AM
Business Wire
Special Opportunities Fund, Inc. (NYSE: SPE) (the “Fund”)
announced today that its rights offering to purchase 1,933,892
shares of a newly designated class of convertible preferred stock
at $25.00 per share expired on August 26, 2016.
Based on preliminary results provided by American Stock Transfer
& Trust Co., the Fund’s subscription agent, subscription
requests for approximately 4.35 million shares have been received.
As a result, the Fund has elected to issue an additional 290,084
shares as authorized in the prospectus. A total of 2,223,976 shares
will be issued for which the Fund will receive a total of
$55,599,400. Additional information regarding the method for
allocating shares pursuant to the over-subscription privilege may
be found in the prospectus.
It is anticipated that within the next few days the shares will
be issued and refunds will be paid for any oversubscription
requests that could not be honored under the terms of the
offering.
Additional information about the Fund is available on its
website at http://www.specialopportunitiesfundinc.com.
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U.S. Bancorp Fund Services, LLCJohn Buckel, 414-765-4255
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