BOSTON, Jan. 28, 2020 /PRNewswire/ -- The Liberty
All-Star® Growth Fund, Inc. (NYSE: ASG) today announced
that it has set the record date for its previously announced rights
offering.
The Fund is issuing non-transferable rights ("Rights") to its
shareholders of record ("Record Date Shareholders") at the close of
business on February 7, 2020. Record
Date Shareholders will receive one Right for each share held and
will be allowed to purchase one additional share of the Fund for
each five Rights received (the "Primary Subscription").
Shareholders who fully exercise their Rights may subscribe for
additional shares not subscribed for by other shareholders 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 offering is subject to the effectiveness of the Fund's
Registration Statement currently on file with the Securities and
Exchange Commission ("SEC") and will be made only by means of a
prospectus. The rights offering is expected to commence on or
about February 12, 2020 and to expire
on or about March 13, 2020. 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.
A final 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.
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 $242
million in net assets as of January
24, 2020.
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.
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.