DHY trustee joins rights offer at $1.75 per share
Credit Suisse High Yield Credit Fund trustee Charles Gerber reported two "J" code transactions in common stock tied to a transferable rights offering.
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Form Type
4
Rhea-AI Filing Summary
Credit Suisse High Yield Credit Fund trustee Charles Gerber reported two "J" code transactions in common stock tied to a transferable rights offering. He subscribed for 6,964 shares at $1.75 per share under an over-subscription privilege, with additional restructuring of 5,333 shares during the same event. The rights offering ran from April 21, 2026 to May 14, 2026 and was priced at 86% of net asset value per common share on the expiration date.
Insider Trade Summary
Other: 12,297 shares
Other
2 txns
Insider
Gerber Charles
Role
Insider
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | common stock | 5,333 | $1.75 | $9K |
| Other | common stock | 6,964 | $1.75 | $12K |
Holdings After Transaction:
common stock — 28,297 shares (Direct)
Footnotes (2)
- F1. The transferable rights offering commenced on April 21, 2026 and expired on May 14, 2026. 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 6,964 shares subscribed for by the Reporting Person pursuant to an over-subscription privilege under the right offering. Shareholders as of the rights offering record date who exercised all rights issued to them were entitled to subscribe for additional common shares at the subscription price. If sufficient common shares are not available to honor all over-subscription requests, available common shares will be allocated pro rata among the Record Date Shareholders who over-subscribe, based on the number of rights issued to them by the Issuer on the record date.
Key Figures
Over-subscription shares: 6,964 shares
Additional J-code shares: 5,333 shares
Subscription price: $1.75 per share
+4 more
7 metrics
Over-subscription shares
6,964 shares
Subscribed for by reporting person via over-subscription privilege
Additional J-code shares
5,333 shares
Other "J" code transaction in common stock on same date
Subscription price
$1.75 per share
Price for common shares in rights offering
Restructuring shares total
12,297 shares
Total shares in restructuring-type transactions per summary
Rights offering period start
April 21, 2026
Commencement date of transferable rights offering
Rights offering period end
May 14, 2026
Expiration date of transferable rights offering
Pricing formula
86% of NAV per share
Basis for subscription price on expiration date
Key Terms
transferable rights offering, subscription price, over-subscription privilege, record date, +1 more
5 terms
transferable rights offering financial
"The transferable rights offering commenced on April 21, 2026 and expired on 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.
subscription price financial
"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."
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.
over-subscription privilege financial
"Represents 6,964 shares subscribed for by the Reporting Person pursuant to an over-subscription privilege under the right offering."
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.
record date financial
"Shareholders as of the rights offering record date who exercised all rights issued to them were entitled to subscribe for additional common shares."
The record date is the specific day when a company determines which shareholders are eligible to receive a dividend or participate in an upcoming vote. It’s like a cutoff date; if you own the stock on that day, you get the benefits or voting rights. This date matters because it decides who qualifies for certain company benefits.
net asset value financial
"equal to 86% of the net asset value per common share at the close of trading on the NYSE American on the Expiration Date."
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.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions did Charles Gerber report for DHY?
Charles Gerber reported two Form 4 transactions coded "J" in DHY common stock. These involved 6,964 shares subscribed via over-subscription and 5,333 additional shares in other restructuring activity linked to a transferable rights offering.
What was the subscription price in the DHY rights offering?
The subscription price in the DHY transferable rights offering was $1.75 per share. This price was set at 86% of the fund’s net asset value per common share on the NYSE American at the close of trading on the expiration date.
When did the DHY transferable rights offering occur?
The DHY transferable rights offering began on April 21, 2026 and expired on May 14, 2026. Shareholders of record during this period could exercise rights, subscribe for common shares, and request additional shares under the over-subscription privilege.
How was the DHY rights offering subscription price determined?
The DHY subscription price was based on a formula equal to 86% of net asset value per common share. The fund calculated this using the NAV at the close of trading on the NYSE American on the rights offering expiration date.
AI-generated analysis. How Rhea-AI works. Not financial advice.
