ZTR Tender Offer Results Better For Investors Than Expected [Seeking Alpha]
Virtus Total Return Fund Inc. (ZTR)
US:NYSE Investor Relations:
virtus.com/products/virtus-global-dividend-income-fund-inc
Company Research
Source: Seeking Alpha
The tender offer was for up to 10% of shares at 98% of NAV, with the potential for two more offers depending on the discount. Investors who tendered saw better-than-expected results, with a pro-ration of 29.18% and a final tender price at a +10.7% premium to the market price. The tender offer for Virtus Total Return Fund's ZTR ) rights offering concluded on May 1, 2024 . We had covered this in a previous CEF Weekly Roundup ( public link From the press release Virtus Total Return Fund Inc. NYSE: ZTR ) ("the Fund") today announced final results of its tender offer ("Tender Offer") to acquire 10% of its outstanding shares, which expired May 1, 2024 at 5:00 p.m. eastern time. The Fund accepted 6,857,832 shares, representing 10% of its outstanding shares, for payment on or about May 8, 2024. A total of 23,504,666.8517 shares were properly tendered. Therefore, on a prorated basis, approximately 29.18% of the shares tendered by each tendering stockholder have been accepted for pay
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News
- Virtus Total Return Fund Inc. Announces Distributions [Yahoo! Finance]Yahoo! Finance
- Virtus Total Return Fund Inc. Announces DistributionsBusiness Wire
- Virtus Total Return Fund Inc. Discloses Sources of Distribution – Section 19(a) NoticeBusiness Wire
- Virtus Total Return Fund Inc. Announces Final Results of Tender OfferBusiness Wire
- Virtus Total Return Fund Inc. Announces Preliminary Results of Tender Offer [Yahoo! Finance]Yahoo! Finance
ZTR
Sec Filings
- 5/22/24 - Form 4
- 5/7/24 - Form SC
- 5/2/24 - Form SC
- ZTR's page on the SEC website