Total Return Securities Fund Announces Final Pricing of Tender Offer

Total Return Securities Fund (NYSE: SWZ) completed its previously announced tender offer, accepting 4,000,000 shares for payment at $6.81 per share.

Rhea-AI Summary

Total Return Securities Fund (NYSE: SWZ) completed its previously announced tender offer, accepting 4,000,000 shares for payment at $6.81 per share. The tender expired at 5:00 p.m. New York City time on January 20, 2026, and the Fund announced acceptance of the full 4 million shares on January 22, 2026. For tender-offer questions, the Fund listed InvestorCom LLC as its information agent at the provided phone number.

Positive

• 4,000,000 shares accepted in tender offer
• Final purchase price set at $6.81 per share

Negative

• Repurchase requires cash outflow to fund purchases
• Share count reduction could affect short-term liquidity metrics

Argus Jan 22 session

+0.17% close to close Open Argus

Details

News Market Reaction – SWZ

On Jan 22, the day this news came out, SWZ closed 0.17% above the previous close.

Data tracked by StockTitan Argus for the Jan 22 session.

Key Figures

Shares accepted: 4,000,000 shares Tender price: $6.81 per share Tender expiration time: 5:00 p.m. +1 more

Shares accepted

4,000,000 shares

Tender offer size accepted for payment

Tender price

$6.81 per share

Final purchase price in tender offer

Tender expiration time

5:00 p.m.

Expiration time on January 20, 2026

Tender expiration date

January 20, 2026

Expiration date of tender offer

Historical Context

5 past events · Latest: Dec 19

5 events

1. Dec 19

   Tender offer launch

   24h Move

   +1.3%

   Announced cash tender for up to 4,000,000 shares at 98% of NAV.

2. Dec 08

   Rights offering expiry

   24h Move

   +1.1%

   Rights offering expired; ~3.98M shares to be issued at $6.07.

3. Nov 03

   Rights & tender details

   24h Move

   -0.2%

   Detailed non-transferable rights offering and planned tender at ≥98% NAV.

4. Aug 19

   Rights offering plan

   24h Move

   -0.3%

   Announced significant rights offering plus conditional tender up to 30% shares.

5. Aug 07

   Corporate actions plan

   24h Move

   -0.2%

   Board outlined self-tender for ≥15% of shares and possible rights offering.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

tender offer

1 terms

tender offer regulatory

"the tender offer by Total Return Securities Fund (NYSE: SWZ)"

A tender offer is a proposal made by a person or company to buy shares from existing shareholders at a set price, usually higher than the current market value, within a specific time frame. It matters to investors because it can lead to a change in ownership or control of a company, and shareholders must decide whether to sell their shares at the offered price.

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NEW YORK, Jan. 22, 2026 (GLOBE NEWSWIRE) -- As previously announced, the tender offer by Total Return Securities Fund (NYSE: SWZ) (f/k/a The Swiss Helvetia Fund) (the “Fund”) to purchase up to 4 million shares of the Fund expired at 5:00 p.m., New York City time, on January 20, 2026. The Fund announced today that it has accepted 4 million of the Fund’s shares for payment at a price of $6.81.

For information, please contact: InvestorCom LLC, the Fund’s information agent for the tender offer, at (877) 972-0090.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Total Return Securities Fund (SWZ) announce on January 22, 2026 about the tender offer?

The Fund announced it accepted 4,000,000 shares for payment at $6.81 per share following the tender that expired January 20, 2026.

When did the SWZ tender offer expire and when was acceptance announced?

The tender expired at 5:00 p.m. New York City time on January 20, 2026, and the Fund announced acceptance on January 22, 2026.

How many shares did SWZ accept in the tender offer and at what price?

SWZ accepted 4,000,000 shares at a purchase price of $6.81 per share.

Who should investors contact for information about the SWZ tender offer?

Investors can contact InvestorCom LLC, the Fund's information agent, at the phone number provided in the announcement.

Does the SWZ announcement indicate whether the tender offer was fully subscribed?

Yes; the Fund accepted the full 4,000,000 share amount the tender offered to purchase.