BOSTON, March 30, 2020 /PRNewswire/ -- The Liberty
All-Star® Growth Fund, Inc. (NYSE: ASG) today announced
that based on preliminary results provided by the Fund's
subscription agent, subscription requests for over 3.1 million new
common shares were received as a result of the Fund's rights
offering which expired on March 27,
2020 (the "Expiration Date"). Since enough shares are
available in the primary subscription, all over-subscription
requests will be honored in full.
The Subscription Price per share is $4.34, which represents 95 percent of the average
of the closing New York Stock Exchange ("NYSE") market price per
share of common stock on the Expiration Date and the four preceding
trading days. The Subscription Price is lower than the Estimated
Subscription Price of $6.30 per
share. Pursuant to the terms of the Offer, excess payments received
from shareholders will be refunded to such shareholders within ten
business days after the Expiration Date.
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 NYSE 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 $189 million in net assets as of March 27, 2020.
Past performance cannot predict future results.
investment in the Fund involves risk, including loss of
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:
Growth Fund, Inc.
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SOURCE Liberty All-Star Growth Fund, Inc.