BOSTON, March 30, 2020 /PRNewswire/ -- The Liberty All-Star® Growth Fund, Inc. (NYSE: ASG) today announced that based on preliminary results provided by the Fund's subscription agent, subscription requests for over 3.1 million new common shares were received as a result of the Fund's rights offering which expired on March 27, 2020 (the "Expiration Date"). Since enough shares are available in the primary subscription, all over-subscription requests will be honored in full.
The Subscription Price per share is $4.34, which represents 95 percent of the average of the closing New York Stock Exchange ("NYSE") market price per share of common stock on the Expiration Date and the four preceding trading days. The Subscription Price is lower than the Estimated Subscription Price of $6.30 per share. Pursuant to the terms of the Offer, excess payments received from shareholders will be refunded to such shareholders within ten business days after the Expiration Date.
The Fund does not continuously issue shares and trades in the secondary market. Investors wishing to buy or sell shares need to place orders through an intermediary or broker. The share price of a closed-end fund is based on the market's value. The Fund's shares are listed on the NYSE under the ticker symbol ASG. ALPS Advisors, Inc. is the investment advisor of the Fund, a multi-managed, closed-end investment company with more than $189 million in net assets as of March 27, 2020.
Past performance cannot predict future results.
An investment in the Fund involves risk, including loss of principal.
Secondary market support provided to the Fund by ALPS Fund Services, Inc.'s affiliate ALPS Portfolio Solutions Distributor, Inc., a FINRA Member. ALPS Fund Services, Inc., ALPS Advisors, Inc. and ALPS Portfolio Solutions Distributor, Inc. are affiliated entities.
For Information Contact:
Liberty All-Star® Growth Fund, Inc.
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SOURCE Liberty All-Star Growth Fund, Inc.