DENVER, June 23, 2021 /PRNewswire/ -- 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
2,807,451 new common shares on or about June
30, 2021 as a result of the rights offering which closed on
June 22, 2021 (the "Expiration
Date"). This number of new shares represents one-third of the
shares outstanding immediately preceding the rights
offering.
The foregoing numbers are estimates only. The Fund will announce
the final results of the rights offering in a press release on or
about June 30, 2021.
The subscription price of $10.15
per share was established on the Expiration Date based upon a
formula equal to 95% of the reported market price per share, based
on the average of the last reported sales price of a common share
on the NYSE American for the five trading days preceding the
Expiration Date.
"We are very pleased to be able to allocate this additional
capital on behalf of the Fund's shareholders by strategically
investing in areas of the global markets which our analysis
identifies as well priced and well positioned, as we seek to
provide a high level of total return and current income over time,"
said Mike Hearle, CEO and Co-Chief
Investment Officer at Clough Capital Partners L.P.
Chairman, Portfolio Manager and Co-Chief Investment Officer
Chuck Clough added, "these offerings
allow our team to continue to make new investments in innovative
sectors and timely trends without the need to reduce existing core
holdings at inopportune times."
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 May 31st, 2021, the Fund had
approximately $166 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 May 31,
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.
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