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Cornerstone Strategic Value Fund Inc Announces Commencement of Rights Offering

Friday, 25 Oct 2013 04:13pm EDT 

Cornerstone Strategic Value Fund Inc announced that the subscription period for its rights offering to holders of the Fund's common stock will commence on November 1, 2013. The Fund is issuing to its stockholders non-transferable rights entitling the holders to subscribe for an aggregate of 6,316,568 shares of the Fund's common stock. Each stockholder is to be issued one right for each whole share owned on the record date, October 28, 2013. The rights entitle stockholders to acquire one share for each three rights held. The subscription period will commence on November 1, 2013, and will expire on November 29, 2013, unless extended (the Expiration Date). The actual subscription price per share, as determined on the Expiration Date, will be the greater of 107% of the net asset value per share as calculated at the close of trading on the Expiration Date and 90% of the market price per share at such time. 

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