RiverNorth/DoubleLine Strategic Chance Fund, Inc. (the “Fund”) (NYSE: OPP) right now declared the closing final results of its transferable rights featuring (the “Supplying”). The Fund will concern a overall of 472,995 new shares of popular inventory as a final result of the Offering, which closed on October 1, 2020 (the “Expiration Day”).
The subscription selling price of $13.88 for each share in the Supplying was recognized on the Expiration Date centered on a formula equivalent to 92.5% of the described web asset value on the Expiration Date. Gross proceeds gained by the Fund, just before any fees of the Providing, are expected to full somewhere around $6.6 million.
The shares of popular inventory issued as a result of the legal rights presenting will not be record day shares for the Fund’s every month distributions paid out in August or September 2020. As the final membership selling price was higher than the original estimated subscription value, there are no excess payments to be returned to subscribing rights holders.
This press release shall not constitute an present to promote or represent a solicitation of an supply to get.
RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.
The expense goal of the Fund is recent income and all round complete return. The Fund had somewhere around $266 million of full managed assets1 and 13.4 million shares of common stock outstanding as of September 30, 2020.
The Fund is a closed-close fund and does not consistently issue inventory for sale as open up-finish mutual cash do. The Fund now trades in the secondary market. Buyers wishing to acquire or sell stock will need to place orders as a result of an middleman or broker. The share selling price of a closed-finish fund is based on the current market price.
Risk is inherent in all investing. Investing in any investment enterprise protection requires threat, like the danger that you may perhaps obtain small or no return on your financial commitment or even that you may get rid of portion or all of your investment decision. Therefore, right before investing in the Common Shares, you should really contemplate the hazards as well as the other facts in the prospectus.
Earlier general performance is no promise of long term effects.
Traders must take into consideration the Fund’s investment goal, hazards, costs and costs diligently ahead of investing. The prospectus must be examine thoroughly just before investing. For extra information and facts, be sure to browse the prospectus, connect with your money skilled or phone 844.569.4750.
RiverNorth Capital Management, LLC
RiverNorth is an expense administration firm started in 2000 that specializes in opportunistic techniques in niche markets exactly where the potential to exploit inefficiencies is best. RiverNorth is the manager to numerous registered and non-public resources.
1Managed Belongings incorporates property attributable to leverage and investments in affiliated funds.
RiverNorth® is a registered trademark of RiverNorth Capital Administration, LLC.
©2000-2019 RiverNorth Cash Management, LLC. All legal rights reserved.
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Investor Make contact with
Chris Lakumb, CFA, CAIA