Special Opportunities Fund Stock Price, News & Analysis

Special Opportunities Fund (NYSE: SPE) announced a tender offer to purchase up to 1.25 million common shares at 97% of the net asset value per share as of the close of trading on April 1, 2022. The Fund may buy an additional 2% of outstanding shares without amending the offer. Shareholders must confirm with their custodians regarding the notice required to accept the offer. This announcement is not a recommendation to sell securities and a tender offer statement has been filed with the U.S. Securities and Exchange Commission.

Special Opportunities Fund, Inc. (NYSE: SPE) announced that its rights offering for 2,542,593 shares of Convertible Preferred Stock at $25.00 per share expired on January 21, 2022. Preliminary results from American Stock Transfer & Trust Co. indicate that 2,334,954 shares will be issued, generating total proceeds of $58,373,850 for the Fund. The shares are expected to be issued shortly.

Special Opportunities Fund, Inc. (NYSE: SPE) has declared three monthly dividends under its managed distribution plan, maintaining an annual rate of 8% based on a net asset value of $16.55 as of December 31, 2021. The dividends for January, February, and March 2022 are set at $0.11 each, with corresponding record and payable dates outlined. The Fund may distribute long-term capital gains or return of capital if investment income is insufficient. The managed distribution plan is subject to periodic review and potential amendment by the Board.

Special Opportunities Fund, Inc. (NYSE: SPE) will issue one transferable right for every five shares owned as of December 20, 2021. Each right allows the purchase of one share of Convertible Preferred Stock at $25.00, with an aggregate of 2,542,593 shares available. Rights expire on January 21, 2022. The Convertible Preferred Stock offers a 2.75% annual dividend and can be converted into common stock at $20.50 per share. Proceeds will fund a self-tender offer if the stock price is below 94% of its net asset value. Further details can be found in a filed registration statement with the SEC.

Special Opportunities Fund, Inc. (NYSE:SPE) has declared a year-end cash dividend of $0.69763 per share for common stockholders. This dividend comprises $0.30824 of long-term capital gains, $0.28189 of short-term capital gains, and $0.1075 of net investment income. The dividend will be paid on December 31, 2021 to stockholders of record as of December 21, 2021. Final determination of distribution sources will be made after year-end and could differ from the estimated amounts.

Special Opportunities Fund, Inc. (NYSE: SPE) has announced its Annual Meeting of Stockholders on December 8, 2021, at 11:00 a.m. Eastern time, to be held at Bulldog Investors' offices in Saddle Brook, NJ. Stockholders must register by contacting John Buckel at U.S. Bank Global Fund Services no later than December 3, 2021. For those unable to attend in person, dial-in details for questions can be obtained from Mr. Buckel. Stockholders are reminded to comply with security and COVID-19 protocols.

Special Opportunities Fund, Inc. (NYSE: SPE) has declared its next three monthly dividends under its managed distribution plan. The plan proposes an annual rate of 8%, amounting to $0.1075 per month, based on a net asset value of $16.13 as of December 31, 2020. The dividends will be paid on October 29, November 30, and December 31, 2021, with record dates set for October 20, November 18, and December 21, respectively. The distribution may include capital gains or return of capital if sufficient investment income is not available.

Special Opportunities Fund (NYSE: SPE) has declared its next three monthly dividends under its managed distribution plan, maintaining an annual rate of 8% based on a net asset value of $16.13 as of December 31, 2020. The planned dividends are $0.1075 for July, August, and September 2021, with respective record dates of July 21, August 20, and September 21, and payable dates of July 30, August 31, and September 30, 2021. The Fund may distribute long-term capital gains or return of capital if investment income is insufficient.

The Board of Directors of Special Opportunities Fund (NYSE: SPE) has announced the redemption of all outstanding shares of its Convertible Preferred Stock at $25 per share, effective at 5 pm EDT on July 9, 2021. Holders can convert their shares into Common Stock at a ratio of 1.9558 until the redemption date. As of June 30, 2021, the market price of the Convertible Preferred was approximately $29.50, significantly above the redemption price. The Fund has 11,806,970 shares of Common Stock outstanding, with a net asset value of $17.25 per share, and 524,171 shares of Convertible Preferred remaining.