ZTR - ZTR Tender Offer Results Better For Investors Than Expected
2024-05-22 07:30:00 ET
Summary
- Virtus Total Return Fund conducted a voluntary tender offer, showing management alignment with shareholders.
- 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 )....
ZTR Tender Offer Results Better For Investors Than Expected