Clough Global Dividend and Income Fund Announces Preliminary Results of Rights Offering
August 23 2019 - 8:00PM
Business Wire
Clough Global Dividend and Income Fund (the “Fund”) is pleased
to announce the successful completion of its rights offering, and
the preliminary results thereof. The Fund anticipates that it will
issue a total of 1,401,287 new common shares on or about August 30,
2019 as a result of the rights offering which closed on August 23,
2019 (the “Expiration Date”).
The fund received subscriptions for more than 165% of the
original offering. Accordingly, the shares issued as part of the
over-subscription privilege of the rights offering will be
allocated pro-rata among record date shareholders who
over-subscribed based on the number of rights originally issued to
them by the Fund.
The foregoing numbers are estimates only. The Fund will announce
the final results of the rights offering in a press release on or
about August 30, 2019.
The subscription price of $10.42 per share was established on
the Expiration Date based upon a formula equal to 85% of the
reported net asset value on the Expiration Date.
The 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. The 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. The Fund’s
portfolio managers are Chuck Clough and Rob Zdunczyk. As of July
31st, 2019 the Fund had approximately $145.3 million in total
assets. More information, including the Fund’s dividend
reinvestment plan, can be found at www.cloughglobal.com or call
877-256-8445.
Clough Capital Partners L.P.
Clough Capital, a Boston-based investment advisory firm which
manages approximately $1.7 billion in assets as of July 31st, 2019,
serves as investment adviser to the Fund.
The Clough Global Dividend and Income Fund is a closed-end fund
and closed-end funds do not continuously issue shares for sale as
open-end mutual funds do. Since the initial public offering, the
Fund now 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.
ALPS Portfolio Solutions Distributor, Inc, FINRA Member
Firm.
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version on businesswire.com: https://www.businesswire.com/news/home/20190823005371/en/
Dennis Emanuel Director of ETF and CEF Strategy ALPS Advisors
914.837.4672 dennis.emanuel@alpsinc.com
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