Definitive Materials Filed by Investment Companies. (497)
March 10 2020 - 3:12PM
Edgar (US Regulatory)
Rights for 7,603,572 Shares
LIBERTY ALL-STAR GROWTH FUND, INC.
Common Stock
Supplement dated March 10, 2020 to Prospectus
dated February 7, 2020
Suspension
and Recommencement of Offering. In accordance with an undertaking required by the U.S. Securities and Exchange
Commission, the Liberty All-Star® Growth Fund, Inc. (the “Fund”) temporarily suspended its Rights Offering
(the “Offering”) as of the close of business on March 9, 2020 because of a greater than 10% decline in net asset
value per Share from the effective date of the Prospectus. The net asset value of the Fund as of March 9, 2020 was
$5.45, representing a decline of 15.2% from its net asset value of $6.43 as of February 7, 2020. The Offering recommenced on
March 10, 2020 as of the time of filing this supplement. In addition, the Fund will extend the rights offering until March
27, 2020.
The Fund announced the
terms of the Offering on December 9, 2019. The net asset value per Share at the close of business on December 9, 2019 and on March
9, 2020 was $6.08 and $5.45, respectively, and the last reported sale price on the New York Stock Exchange on those dates was
$6.37 and $6.03, respectively.
Length of
Subscription Period and Other Dates. As of the date of this supplement, as a result of the extension of the Offering, the
following terms and conditions of the Offering also are being revised: the Subscription Period (February 12, 2020 to March
27, 2020), the Expiration Date (March 27, 2020), and the Pricing Date (March 30, 2020). The Fund reserves the right to
further extend the Subscription Period and other related dates as described in the Prospectus.
No Other Changes.
Except as described in this supplement, the terms of the Offering and all other information the Fund described in the Prospectus
remain unchanged. This includes the Record Date (February 7, 2020), the aggregate number of shares offered (7,603,572) and the
rate (one additional share for each five rights held). The Estimated Subscription Price applicable to the Offering remains at $6.30.
Subscriptions Made Prior
to Suspension. The temporary suspension of the Offering does not require that Shareholders who previously subscribed for Shares
take any action. Such subscription requests will continue to be processed as submitted. However, these Shareholders have the right
if they choose to cancel their subscription by written request via U.S. mail. Shareholders who exercised their subscription rights
through securities brokers and wish to cancel should submit their cancellation requests to those brokers who will then notify the
Fund. All other cancellation requests should be mailed to the Subscription Agent at the following address:
Computershare Trust Company, N.A.
c/o Corporate Actions Voluntary Offer; COY:ASG
P.O. Box 43011
Providence, RI 02940-3011
Subscription cancellation
requests must be received by the close of business on the revised Expiration Date of the Offering, which is March 27, 2020 and
must include the following information: 1) Full name of registered Shareholder; 2) telephone contact information for Shareholder;
and 3) total number of Shares subscribed for in Shareholder’s Subscription Certificate. In addition, Shareholders required
to provide signature guarantees with their Subscription Certificates also must provide them with their cancellation requests. Any
subscription requests that are not properly revoked will be deemed to be valid and processed accordingly.
Any questions related
to the Offering or how to cancel a subscription request that was submitted prior to the suspension of the Offering on March 9,
2020, should contact the Information Agent, Georgeson, at 1-888-566-8006.
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