Clough Closed-End Funds Commence Tender Offer
October 13 2017 - 4:30PM
Business Wire
Clough Global Dividend and Income Fund (GLV), Clough Global
Equity Fund (GLQ) and Clough Global Opportunities Fund (GLO) (each,
a “Fund” and collectively, the “Funds”), which are advised by
Clough Capital Partners L.P. (the “Adviser”), announced today that
they have commenced tender offers for up to 37.5% of each of GLQ’s
and GLO’s respective outstanding common shares of beneficial
interest and up to 32.5% of GLV’s outstanding common shares of
beneficial interest (which, with respect to a Fund, constitutes the
“Offer”). The price to be paid for the common shares of a Fund is
an amount per share, net to the seller in cash, equal to 98.5% of
the net asset value per share (“NAV”) of the Fund in U.S. dollars
as determined by the Fund as of the close of regular trading on the
New York Stock Exchange the next day the NAV is calculated after
the expiration date of the Offer or, if the Offer is extended by a
Fund in its sole discretion, on the next day the NAV is calculated
after the day to which the Offer is extended. The Offer will expire
at 5:00 p.m., New York City time, on November 10, 2017, unless
extended by a Fund in its sole discretion.
Additional terms and conditions of the Offer are set forth in
the Funds’ tender offer materials, which are being distributed to
shareholders. If the number of a Fund’s outstanding common shares
properly tendered, and not properly withdrawn, exceeds the maximum
number of its tender offer, the Fund will purchase common shares
from tendering shareholders on a pro rata basis, with appropriate
adjustment to avoid purchase of fractional common shares.
Accordingly, there is no assurance that a Fund will purchase all of
a shareholder’s tendered common shares.
This announcement is not a recommendation, an offer to purchase,
or a solicitation of an offer to sell shares of the Funds. The
Offer will be made only by an offer to purchase, a related letter
of transmittal, and other documents, which have been filed with the
Securities and Exchange Commission as exhibits to the tender offer
statements on Schedule TO and are available free of charge at
http://www.sec.gov. Shareholders should read the offer to purchase
and tender offer statements on Schedule TO and related exhibits as
they contain important information about the Offer.
Additional Information
About Clough Global Equity Fund
The Fund is a closed-end fund utilizing the Adviser’s
research-driven, thematic process, with an investment objective of
providing a high level of total return. Having a global, flexible
mandate and exploiting the Firm’s research offices in Boston, the
Fund will invest at least 80% in equity and equity-related
securities in both U.S. and non-U.S. markets, and the remainder in
fixed income securities, including corporate and sovereign debt, in
both U.S. and non-U.S. markets. More information on the Clough
Global Equity Fund, including the Fund’s dividend reinvestment
plan, can be found at www.cloughglobal.com or call
877-256-8445.
About Clough Global Opportunities Fund
The Fund is a closed-end fund with an investment objective of
providing a high level of total return. The Fund seeks to achieve
this objective by applying a fundamental research-driven investment
process and will invest in equity and equity-related securities as
well as fixed income securities, including both corporate and
sovereign debt. Utilizing the Adviser’s global research
capabilities, with offices in Boston, the Clough Global
Opportunities Fund will invest in both U.S. and non-U.S. markets.
More information on the Clough Global Opportunities Fund, including
the Fund’s dividend reinvestment plan, can be found at
www.cloughglobal.com or call 877-256-8445.
About Clough Global Dividend and Income Fund
The Fund is a closed-end fund with an investment objective of
providing a high level of total return. With analysts in Boston,
the Clough Global Dividend and Income Fund seeks to pursue this
objective by applying a fundamental research-driven investment
process and will invest in equity and equity-related securities as
well as fixed income securities, including both corporate and
sovereign debt, in both U.S. and non-U.S. markets. More information
on the Clough Global Dividend and Income Fund, including the Fund’s
dividend reinvestment plan, can be found at www.cloughglobal.com or
call 877-256-8445.
About Clough Capital Partners L.P.
The Adviser is a Boston-based investment advisory firm which
manages approximately $2.8 billion in assets: $1.1 billion in hedge
fund and institutional accounts; $87 million in open-end mutual
funds; and $1.6 billion in the Funds as of August 31, 2017. The
firm uses a global and theme-based approach and invests in
securities on a global basis.
An investor should consider investment objectives, risks,
charges and expenses carefully before investing. To obtain an
annual report or semi-annual report which contains this and other
information visit www.cloughglobal.com or call 877-256-8445. Read
them carefully before investing.
Certain statements made in this press release, such as those
related to the Offer, are forward-looking statements. Actual future
results or occurrences may differ significantly from those
anticipated in any forward-looking statements due to numerous
factors, including, but not limited to: market developments, legal
and regulatory developments, and other additional risks and
uncertainties. As a result, none of the Adviser, the Funds, or any
other person assumes responsibility for the accuracy and
completeness of such statements in the future.
ALPS Portfolio Solutions Distributor, Inc, FINRA Member
Firm.
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version on businesswire.com: http://www.businesswire.com/news/home/20171013005478/en/
Clough Capital Partners L.P.Tom Carter,
ALPS720-917-0615tom.carter@alpsinc.comorFund Services Group,
877-256-8445
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