DHY trustee adds shares via rights offering
Credit Suisse High Yield Credit Fund trustee Laura A. DeFelice reported two “other” transactions in common shares linked to a transferable rights offering.
Rhea-AI Filing Summary
Credit Suisse High Yield Credit Fund trustee Laura A. DeFelice reported two “other” transactions in common shares linked to a transferable rights offering. The fund’s rights offering ran from April 21, 2026 through May 14, 2026 at a subscription price of $1.75 per share. One footnoted transaction reflects DeFelice subscribing for 20,000 shares under an over-subscription privilege, with pricing set at 86% of net asset value per common share on the expiration date.
Positive
- None.
Negative
- None.
Insider Trade Summary
Other: 38,933 shares
Other
2 txns
Insider
DeFelice Laura A
Role
Insider
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | common shares | 18,933 | $1.75 | $33K |
| Other | common shares | 20,000 | $1.75 | $35K |
Holdings After Transaction:
common shares — 95,734 shares (Direct)
Footnotes (2)
- F1. The transferable rights offering commenced on April 21, 2026 and expired May 14, 2026 (the "Expiration Date"). The subscription price was $1.75 per share and was determined based upon a formula equal to 86% of the net asset value per common share at the close of trading on the NYSE American on the Expiration Date.
- F2. Represents 20,000 shares subscribed for by the Reporting Person pursuant to an over-subscription privilege under the rights offerings.
Key Figures
Over-subscription shares: 20,000 shares
Second J-code transaction: 18,933 shares
Rights offering subscription price: $1.75 per share
+4 more
7 metrics
Over-subscription shares
20,000 shares
Subscribed by reporting person under over-subscription privilege
Second J-code transaction
18,933 shares
Additional “other” transaction in common shares on May 14, 2026
Rights offering subscription price
$1.75 per share
Set for the transferable rights offering
Restructuring shares total
38,933 shares
Total shares involved in J-code restructuring transactions
NAV pricing formula
86% of NAV
Subscription price set at 86% of net asset value per share
Rights offering period start
April 21, 2026
Commencement of transferable rights offering
Rights offering expiration
May 14, 2026
Expiration date used to determine subscription price
Key Terms
transferable rights offering, over-subscription privilege, subscription price, net asset value, +1 more
5 terms
transferable rights offering financial
"The transferable rights offering commenced on April 21, 2026 and expired May 14, 2026"
A transferable rights offering is a company raising money by giving existing shareholders tradable tokens called “rights” that let them buy new shares at a set price. Think of it like a coupon that shareholders can either use to buy discounted stock, sell to someone else, or let expire; it matters to investors because exercising preserves ownership percentage while selling can provide cash, and the overall offering can dilute share value for those who do nothing.
over-subscription privilege financial
"Represents 20,000 shares subscribed for by the Reporting Person pursuant to an over-subscription privilege"
An over-subscription privilege is a feature of a share offering that lets existing investors request more shares than their initial entitlement, with any extra allocation given only if other investors do not take their full allotment. It matters because it gives shareholders a chance to increase their stake and avoid losing ownership percentage, much like ordering extra slices at a party in case others pass—however, receiving the extras is not guaranteed.
subscription price financial
"The subscription price was $1.75 per share and was determined based upon a formula"
Subscription price is the set amount an investor pays to buy newly issued shares, bonds or units when a company offers them directly, such as in a rights issue or subscription offering. It matters because it determines how much an investor’s ownership cost will be, affects potential gains or losses and influences dilution of existing shareholders—think of it as a pre-order price that helps decide whether joining the new issue is worthwhile.
net asset value financial
"equal to 86% of the net asset value per common share at the close of trading"
Net asset value is the total value of an investment fund's assets minus any liabilities, divided by the number of shares or units outstanding. It represents the per-share worth of the fund, similar to how the value of a house is determined by its total worth after debts are subtracted. Investors use it to gauge the true value of their holdings and to compare different investment options.
J-code transaction financial
"transaction_code": "J" ... "transaction_code_description": "Other acquisition or disposition""
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider activity did DHY trustee Laura A. DeFelice report?
Laura A. DeFelice reported two Form 4 “other” transactions in DHY common shares. These total 38,933 shares and are tied to a rights offering, rather than open-market buying or selling, making them more of a structural adjustment than a directional trade.
What were the key dates of the DHY transferable rights offering?
The DHY transferable rights offering commenced on April 21, 2026 and expired on May 14, 2026. These dates frame the window during which shareholders could exercise rights, participate in over-subscription privileges, and acquire new common shares at the discounted subscription price.
What does “over-subscription privilege” mean in the DHY rights offering?
The over-subscription privilege allowed eligible DHY holders to subscribe for additional shares beyond their basic rights allocation. DeFelice used this feature to subscribe for 20,000 extra shares at $1.75, increasing her stake through the rights mechanism rather than open-market purchases.
AI-generated analysis. How Rhea-AI works. Not financial advice.
