Herzfeld Credit Income Fund (HERZ) outlines 5% common stock tender offer plan

Rhea-AI Filing Summary

Herzfeld Credit Income Fund, Inc. plans to commence a tender offer for up to 5% of its outstanding common stock, as announced in a press release dated August 25, 2025. The offer will be launched by October 31, 2025 and will be available only to current common stockholders.

When the tender offer begins, the company will file detailed materials on Schedule TO with the SEC, including the offer to exchange and transmittal forms. Stockholders will be able to access these documents for free on the SEC’s website or by requesting copies from Equiniti Trust Company, LLC or via the company’s listed phone number.

Insights

Closed-end fund and corporate actions analyst

Herzfeld Credit Income Fund plans a modest issuer tender for up to 5% of its common shares.

Herzfeld Credit Income Fund, Inc. intends to launch a tender offer for up to 5% of its outstanding common stock, with commencement targeted by October 31, 2025. Because this is an issuer tender, any purchased shares would come from existing stockholders who choose to participate, rather than from a new share issuance.

The announcement is preliminary; key economic terms such as pricing and final conditions will appear in the forthcoming Schedule TO and related documents. Actual impact will depend on how many stockholders elect to tender and the final terms once the offer is formally commenced.

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Accepted by SEC EDGAR 08/25/2025 - 04:43 PM Learn about SEC filing dates

FAQ

What did Herzfeld Credit Income Fund (HERZ) announce in this filing?

Herzfeld Credit Income Fund, Inc. announced its intention to commence a tender offer for up to 5% of its outstanding common stock, as described in a press release dated August 25, 2025.

How large is the planned Herzfeld Credit Income Fund tender offer?

The company plans a tender offer for up to 5% of its outstanding common stock, giving existing stockholders the option to tender a portion of their holdings.

When does Herzfeld Credit Income Fund expect to start the tender offer?

The company stated that it intends to commence the tender offer by October 31, 2025, subject to the preparation and filing of formal offer documents.

Who is eligible to participate in the Herzfeld Credit Income Fund tender offer?

The offer will be made only to current holders of the company’s common stock, referred to as stockholders in the announcement.

Where can HERZ stockholders find the official tender offer documents?

Once the offer begins, stockholders can access the Schedule TO and related documents for free on www.sec.gov, or request copies from Equiniti Trust Company, LLC or via the company’s listed phone number.

Is this Herzfeld Credit Income Fund filing the actual tender offer?

No. This is a Schedule TO-C covering a pre-commencement communication. The full terms of the tender offer will be provided later in a separate Schedule TO filing.

As filed with the Securities and Exchange Commission on August 25, 2025

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

SCHEDULE TO

Tender Offer Statement Under Section 14(d)(1) or 13(e)(1)

of the Securities Exchange Act of 1934

HERZFELD CREDIT INCOME FUND, INC.

(Name of Subject Company (Issuer))

Herzfeld Credit Income Fund, Inc.

(Name of Filing Person (Issuer))

Common Stock, par value $0.001

(Title of Class of Securities)

42804T106

(CUSIP Number of Securities)

Thomas K. Morgan

Herzfeld Credit Income Fund, Inc.

119 Washington Avenue, Suite 504

Miami Beach, Florida 33139

Telephone: (305) 777-1660

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications on
Behalf of the Person(s) Filing Statement)

With a Copy to:

John P. Falco, Esq.

Troutman Pepper Hamilton Sanders LLP

3000 Two Logan Square | 18th & Arch Streets

Philadelphia, PA 19103

Telephone: (215) 981-4659

☒ Check the box if the filing relates solely to preliminary communications made before the commencement of a tender offer.

Check the appropriate boxes below to designate any transactions to which the statement relates:

☐ Third-party tender offer subject to Rule 14d-1.

☒ Issuer tender offer subject to Rule 13e-4.

☐ Going-private transaction subject to Rule 13e-3.

☐ Amendment to Schedule 13D under Rule 13d-2.

Check the following box if the filing is a final amendment reporting the results of the tender offer ☐

INTRODUCTORY STATEMENT

This Tender Offer Statement on Schedule TO is filed by Herzfeld Credit Income Fund, Inc. (the “Company”) and relates to a pre-commencement communication by the Company with respect to the Company’s Common Stock, par value $0.001 per share (the “Common Stock”).

On August 25, 2025, the Company issued a press release announcing its intention to commence a tender offer by October 31, 2025 for up to 5% of the Company’s outstanding Common Stock (the “Offer”). The Offer will only be made to current holders of Common Stock (“Stockholders”). Upon commencement of the Offer, the Company will file with the Securities and Exchange Commission (the “SEC”) a Schedule TO containing an offer to exchange, forms of letters of transmittal and related exhibits. These documents will contain important information about the Offer and Stockholders are urged to read them carefully when they become available. Stockholders may obtain free copies of the Tender Offer Statement and other documents (when they become available) filed with the SEC at the SEC’s web site at www.sec.gov. In addition, free copies of the Tender Offer Statement and other documents filed with the SEC may also be obtained after the commencement of the Exchange Offer by directing a request to: Equiniti Trust Company, LLC, or by calling (305) 777-1660.

ITEMS 1 THROUGH 11.

Not applicable.

ITEM 12. EXHIBITS.

99.1 Press Release, dated August 25, 2025.

ITEM 13. INFORMATION REQUIRED BY SCHEDULE 13E-3.

Not applicable.

EXHIBIT INDEX

Exhibit No.		Document
99.1		Press Release, dated August 25, 2025 (Filed herewith).