Liberty All-Star® Growth Fund, Inc.
September 07 2018 - 4:35PM
Business Wire
Announces Record Date for Rights
Offering
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 September 17, 2018 (ex-date of September 14, 2018).
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 three 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
September 21, 2018 and to expire on or about October 23, 2018. 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 $173
million in net assets as of September 6, 2018.
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20180907005484/en/
Liberty All-Star Growth Fund, Inc. (ASG)Bill Parmentier,
1-800-241-1850www.all-starfunds.com
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