BOSTON, Dec. 9, 2019 /PRNewswire/ -- The Board of
Directors (the "Board") of Liberty All-Star® Growth
Fund, Inc. (NYSE: ASG) (the "Fund") has authorized and set the
terms of an offering to the Fund's shareholders of rights to
purchase additional shares of the Fund.
Shareholders on a record date to be established by the Fund's
Board would be issued non-transferable rights entitling them to
subscribe for one additional share for every five shares held (the
"Primary Subscription"), with the right to subscribe for additional
shares not subscribed for by others in the Primary Subscription. If
such over-subscription requests exceed the number of shares
available, the Fund may, in its sole discretion, elect to issue
additional shares in an amount of up to 25% of the shares issued in
the Primary Subscription.
The subscription price per share will be 95 percent of the
reported net asset value or market price per share, whichever is
lower on the expiration date. Market price per share will be
determined based on the average of last reported sales prices of a
share on the New York Stock Exchange on the expiration date and the
four trading days preceding the expiration date. The offering is
subject to the effectiveness of the Fund's Registration Statement
to be filed with the Securities and Exchange Commission ("SEC") and
will be made only by means of a prospectus.
A Registration Statement relating to the securities has not been
filed with the SEC as of the date of this release. These securities
may not be sold nor may offers to purchase be accepted prior to the
time the Registration Statement becomes effective with the SEC.
This press release shall not constitute an offer to sell or
constitute a solicitation of an offer to buy. Investors
should read the prospectus, when available, and consider the
investment objective, risks, charges and expenses of the Fund
carefully before investing. To obtain an annual report or
semi-annual report which contains this and other information, visit
www.all-starfunds.com or call 1-800-241-1850. Read them carefully
before investing.
The Fund does not continuously issue shares and trades in the
secondary market. Investors wishing to buy or sell shares
need to place orders through an intermediary or broker. The
share price of a closed-end fund is based on the market's
value. The Fund's shares are listed on the New York Stock
Exchange under the ticker symbol ASG. ALPS Advisors, Inc. is
the investment advisor of the Fund, a multi-managed, closed-end
investment company with more than $228
million in net assets as of December
5, 2019.
Past performance cannot predict future results.
An
investment in the Fund involves risk, including loss of
principal.
Secondary market support provided to the Fund
by ALPS Fund Services, Inc.'s affiliate ALPS Portfolio Solutions
Distributor, Inc., a FINRA Member. ALPS Fund Services, Inc.,
ALPS Advisors, Inc. and ALPS Portfolio Solutions Distributor, Inc.
are affiliated entities.
LAS000958
For Information Contact:
Liberty All-Star®
Growth Fund, Inc.
1-800-241-1850
www.all-starfunds.com
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SOURCE Liberty All-Star Growth Fund, Inc.