ASGI - UTF Rights Offering Strategy

2025-10-03 10:45:32 ET

Cohen & Steers Infrastructure Fund's ( UTF ) rights offering is underway . From the press release:

Cohen & Steers Infrastructure Fund ((UTF)) (the "Fund") announced today that its Board of Directors has approved the terms of the issuance of transferable rights ("Rights") to the holders of the Fund's common stock (par value $0.001 per share), as of the record date, September 22, 2025 (the "Record Date"). Common stockholders on the Record Date ("Record Date Stockholders") will receive one transferable right for each share of common stock owned. Five Rights are required to purchase one newly issued share of common stock at the Subscription Price (defined below). The Subscription Price will be determined by the Fund upon the expiration of the Offer, which is currently expected to be October 16, 2025 , unless the Fund extends the Offer (the "Expiration Date"). The Subscription Price will be based upon a formula equal to 95% of the average of the last reported sales price of a share of common stock on the NYSE on the Expiration Date, and each of the four preceding trading days (the "Formula Price"). If, however, the Formula Price is less than 90% of the net asset value at the close of trading on the Expiration Date, then the Subscription Price will be 90% of the Fund's net asset value on the Expiration Date. The Rights are expected to trade "when issued" on the NYSE beginning on September 19, 2025, and the Fund's shares of common stock are expected to trade "ex-Rights" on the NYSE beginning on September 22, 2025. The Rights are expected to begin trading for normal settlement on the NYSE (NYSE: UTF RT) on or about September 25, 2025.

For further details see: