DENVER, May 10, 2021 /PRNewswire/ -- The Board of
Trustees of the Clough Global Dividend and Income Fund ("GLV" or
the "Fund") has authorized and set the terms for a transferable
rights offering ("the Offering").
Shareholders of record as of May 25,
2021 ("Record Date") will receive one transferable right for
every share held. For every three rights, rights holders can
subscribe for one new share of common stock at the subscription
price.
Subscription price will be calculated as the higher of 95% of
market price or 85% of net asset value ("NAV") on expiration
date. Market price per common share will be determined based
on the average of the last reported sales prices of a common share
on the NYSE American for the five trading days preceding the
Expiration Date (not including sales price on the Expiration
Date). Expiration Date is expected to be June 22nd, 2021.
Record date shareholders who fully subscribe to the primary
subscription are eligible for an oversubscription privilege,
subject to pro rata allotment. Rights acquired in the secondary
market are not eligible for oversubscription privileges.
Record date shareholders who exercise their Rights will not be
entitled to distributions payable during May or June 2021 on new shares issued in connection with
the Rights Offering.
The Fund anticipates that the offering will commence on or about
May 27th, 2021 and expire
on or about June 22nd,
2021, unless extended by the Board.
The Rights are expected to trade on the NYSE American beginning
on May 28th, 2021.
Shareholders who do not wish to participate in the Offering will
have the ability to sell their rights.
The rights offering will be made pursuant to the Fund's
currently effective shelf registration statement on file with the
Securities and Exchange Commission ("SEC") and only by means of a
prospectus supplement and accompanying prospectus. A final
prospectus supplement will be filed with the SEC, but has not been
filed as of the date of this release. The Company expects to mail
subscription certificates evidencing the subscription rights and a
copy of the prospectus supplement and accompanying prospectus for
the rights offering shortly following the Record Date. These
securities described in this release may not be sold nor may offers
to purchase be accepted prior to the time the prospectus supplement
is filed with the SEC.
This press release shall not constitute an offer to sell or
constitute a solicitation of an offer to buy.
An investor should consider investment objectives, risks,
charges and expenses carefully before investing. To obtain an
annual report, semi-annual report or prospectus which contains this
and other information visit www.cloughglobal.com or call
1-877-256-8445. Read them carefully before investing.
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 and current income. 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 April 30th, 2021 the Fund had approximately
$165 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 $2.2
billion in assets as of April
30th, 2021, 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.
Forward-looking statements are based on information that is
available on the date hereof, and neither the fund manager nor any
other person affiliated with the fund manager has any duty to
update any forward-looking statements. Important factors that could
affect actual results to differ from these statements include,
among other factors, material, negative changes to the asset class
and the actual composition of the portfolio.
ALPS Portfolio Solutions Distributor, Inc., FINRA Member
Firm.
Clough Global Dividend and Income Fund (NYSE MKT:
GLV)
1290 Broadway, Suite 1000
Denver, CO 80203
Contact: Fund Services Group at 877-256-8445
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SOURCE Clough Global Dividend and Income Fund