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Tekla World Healthcare Fund Announces Preliminary Results of its Rights Offering
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Tekla World Healthcare Fund (the “Fund”) (NYSE: THW) is pleased to announce the completion of its one for three non-transferable rights offering (the “Offering”) which expired Tuesday, April 6, 2021 (the “Expiration Date”). Pursuant to the Offering, record date shareholders were entitled to purchase one newly issued share of the Fund for every three non-transferrable rights held.
The subscription price for each newly issued share was determined to be $14.262 per share, which, under the terms of the prospectus, was equal to 95% of the volume weighted average price of a share on the NYSE on the Expiration Date and each of the four preceding trading days.
Preliminary results indicate that the Fund received total subscriptions of approximately $100.4 million (including oversubscription requests). The Fund expects that shares will be issued on or about April 9, 2021.
Tekla World Healthcare Fund (NYSE: THW) is a closed-end fund that invests in public and private companies in the healthcare industry. Tekla Capital Management LLC, based in Boston, serves as Investment Adviser to the Fund. Shares of the Fund can be purchased on the New York Stock Exchange through any securities broker.
This communication shall not constitute an offer to sell or a solicitation for an offer to buy these securities, nor shall there be any sale of these securities in any State in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the laws of any such State.
For additional information regarding the Offering please call AST Fund Solutions, LLC at (866) 620-0678.
tekla life sciences investors is a closed-ended equity mutual fund launched and managed by tekla capital management llc. the fund invests in public equity markets across the globe. it seeks to invest in stocks of companies operating in the life sciences sector, including the biotechnology, pharmaceutical, diagnostics, managed healthcare, medical equipment, hospitals, healthcare information technology and services, devices and supplies industries, and in agriculture and environmental management industries. the fund primarily invests in growth stocks of small cap companies. it employs fundamental analysis with a focus on factors such as market position for services or products, experience of business management, technological expertise, and the ability either to generate funds internally to finance growth or to secure outside sources of capital to create its portfolio. the fund benchmarks the performance of its portfolio against the nasdaq biotech index and the s&p 500 index. it was form