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Cornerstone Strategic Value Fund Inc announces completion of rights offering


Monday, 2 Dec 2013 09:19am EST 

Cornerstone Strategic Value Fund Inc:Says the completion of its one-for-three rights offering which expired Nov. 29.Says the offering was over-subscribed. Under the terms of the Offering, record date stockholders were entitled to purchase one newly-issued share of common stock of the Fund for every three rights held.Says the subscription price for each newly-issued share was determined to be $5.92 which, under the terms of the prospectus.Says based on preliminary results provided by the Fund's subscription agent, the Fund received requests for approximately $90.3 million of its shares.Says the subscription price is lower than the original estimated subscription price of $6.46.Says it is anticipated that shares will be issued on or about Dec. 6. 

Company Quote

6.16
-0.06 -0.96%
4:00pm EDT