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The High Income Securities Fund (NYSE: PCF) has issued a notice to Rights Holders regarding its non-transferable rights offering. The notice outlines that if the Estimated Subscription Price exceeds the Subscription Price on the Expiration Date, excess payments will be allocated towards purchasing additional Shares unless a Rights Holder specifies otherwise. Rights Holders are advised to communicate any preferences regarding excess amounts to their nominees if applicable. For inquiries, they can contact InvestorCom at (877) 972-0090.
The High Income Securities Fund (PCF) has announced a non-transferable rights offering to shareholders, allowing them to purchase up to 9,487,873 additional shares of beneficial interest. Shareholders of record on September 22, 2021, will receive one right per share owned. The offering will remain open until 5:00 p.m. on October 22, 2021. The subscription price will be determined post-offering, but will not be less than 85% of the net asset value (NAV) on that date. If the market price falls below 95% of NAV, the Fund may consider a self-tender offer.
The High Income Securities Fund (NYSE: PCF) announced its intention to make monthly distributions at an annual rate of at least 10%, equating to 0.8333% monthly. As per the last business day of 2020, the net asset value of the Fund’s common shares was $9.34. For the upcoming months, each distribution is set at $0.078, scheduled for October 29, November 30, and December 31, 2021. The Fund cautioned that distributions might include a return of capital if sufficient investment income is unavailable.
High Income Securities Fund (NYSE: PCF) plans monthly distributions at an annual rate of at least 10%, equating to $0.078 per share for July, August, and September 2021. The fund's distribution is based on a net asset value of $9.34 as of the last business day of 2020. Record dates are set for July 21, August 20, and September 21, 2021, with payable dates on July 30, August 31, and September 30, 2021. Note that distributions may include a return of capital if investment income is insufficient.
High Income Securities Fund (NYSE: PCF) announces plans for monthly distributions totaling at least 10% annually, equating to $0.078 per share for April, May, and June 2021, based on a net asset value of $9.34 as of December 2020. Key dates for distribution include April 30, May 28, and June 30, 2021. The Fund notes that if sufficient investment income is unavailable, distributions may involve a return of capital. An estimate of the distribution composition will be provided to stockholders, with details reported on Form 1099-DIV for tax purposes.
High Income Securities Fund (NYSE: PCF) announced the expiration of its rights offering on January 29, 2021, allowing for the purchase of up to 5,565,006 additional shares. Subscription requests totaled 3,858,789 shares, with the final subscription price set at $8.24, determined by a formula based on market price and net asset value. This price exceeded the estimated $7.91 set in the prospectus. Shareholders must pay an additional $0.33 per share for the newly issued shares.
High Income Securities Fund (NYSE: PCF) has extended the Expiration Date of its rights offering from January 22, 2021, to January 29, 2021. This decision comes after reports of custodians setting earlier cut-off dates, which affected clients' awareness. The Fund has received requests for 3,296,883 shares so far. Rights holders can purchase additional shares not taken by others, and the subscription price will be determined post-Expiration Date, estimated at $7.91. This announcement does not constitute an offer to sell securities.
High Income Securities Fund (NYSE: PCF) plans to make monthly distributions with an annual rate of at least 10%, equivalent to 0.8333% per month, based on a net asset value of $9.34 as of December 31, 2020. The distributions for the first three months of 2021 will be $0.078 per share for January, February, and March. The record dates for these distributions are January 20, February 17, and March 22, with payable dates on January 29, February 26, and March 31, respectively. If investment income is insufficient, distributions may include a return of capital.
The High Income Securities Fund (NYSE: PCF) announced a non-transferable rights offering for existing stockholders. Eligible stockholders of record on December 23, 2020, will receive rights to purchase up to 5,565,006 additional shares of common stock. Rights can be exercised until January 22, 2021. The subscription price will be 95% of the average market price from the last three trading days ending after the expiration, with a minimum price equal to 85% of the net asset value. The offering will be made under a new registration statement.