Liberty All-Star® Growth Fund, Inc. Announces Results of Rights Offering
The Liberty All-Star Growth Fund (NYSE: ASG) announced that its rights offering, which concluded on June 28, 2021, was fully subscribed.
Sentiment and the balance of points
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Rhea-AI Summary
The Liberty All-Star Growth Fund (NYSE: ASG) announced that its rights offering, which concluded on June 28, 2021, was fully subscribed. The Fund will issue up to 10,660,776 shares, including 8,528,621 primary subscription shares and 2,132,155 shares from the over-subscription privilege. The subscription price per share is $8.21, reflecting 95% of the average closing price on the expiration date and the four prior trading days. With net assets exceeding $372 million, ASG operates as a multi-managed, closed-end investment company.
Positive
- Rights offering fully subscribed, indicating strong investor interest.
- Issuance of up to 10,660,776 shares will enhance liquidity.
Negative
- Not enough shares to meet all over-subscription requests may lead to investor dissatisfaction.
Details
News Market Reaction – ASG
The recorded move for ASG in the trading session of this news was +2.06%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
BOSTON, June 29, 2021 /PRNewswire/ -- The Liberty All-Star® Growth Fund, Inc. (NYSE: ASG) today announced that based on results provided by the Fund's subscription agent its rights offering, which expired on June 28, 2021, was fully subscribed. The Fund will issue up to 10,660,776 shares, which represents the entire 8,528,621 primary subscription shares in the offering, plus 2,132,155 additional shares made available by means of the secondary over-subscription privilege. Since there were not sufficient shares to honor all over-subscription requests, available shares will be allocated among those shareholders who over-subscribed based on the number of shares held on the record date.
The Subscription Price per share is
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 NYSE 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
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.
For Information Contact:
Liberty All-Star® Growth Fund, Inc.
1-800-241-1850
www.all-starfunds.com
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SOURCE Liberty All-Star Growth Fund, Inc.
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