SunAmerica Focused Alpha Growth Fund, Inc. Announces Preliminary Results of In-Kind Tender Offer
19 Novembre 2010 - 2:30PM
Business Wire
SunAmerica Focused Alpha Growth Fund, Inc. (NYSE: FGF) (the
“Fund”) announced today that based upon current information,
approximately 13,811,673 shares, or 67.9% of the Fund’s outstanding
shares of common stock, were tendered and not withdrawn in response
to the Fund’s in-kind tender offer (the “Offer”), which expired on
November 18, 2010 at 5:00 p.m., Eastern time (the “Expiration
Date”). These figures are subject to adjustment and should not be
regarded as final.
Under the terms of the Offer, the Fund offered to acquire up to
30% of its outstanding shares at a price equal to 98.5% of the
Fund’s NAV per share as of the close of regular trading on the New
York Stock Exchange on the business day immediately following the
day the offer expires (“Pricing Date”), in exchange for a pro rata
distribution of the Fund’s portfolio securities (subject to certain
exceptions, including that the Fund will pay cash in lieu of
delivering any “odd lot” of portfolio securities (i.e., fewer than
100 shares)). Because the number of shares tendered exceeded 30% of
the Fund’s outstanding shares, the Fund will purchase tendered
shares on a pro rata basis. The pro rata portion of the Fund’s
portfolio securities and any applicable cash will be transferred to
participating stockholders as soon as practicable following the
Expiration Date.
The Fund is a non-diversified, closed-end management investment
company. The Fund’s investment objective is to provide growth of
capital. The Fund seeks to pursue this objective by employing a
concentrated stock picking strategy in which the Fund, through
subadvisers selected by SunAmerica Asset Management Corp., actively
invests primarily in a small number of equity securities (i.e.,
common stocks) and to a lesser extent equity-related securities
(i.e., preferred stocks, convertible securities, warrants and
rights) primarily in the U.S. markets. Marsico Capital Management,
LLC is the large-cap stock subadviser and BAMCO, Inc. is the small-
and mid-cap stock subadviser.
For more information about the SunAmerica Focused Alpha Growth
Fund, please visit www.sunamericafunds.com
As of October 31, 2010, SunAmerica Asset Management Corp.
managed and/or administered approximately $41.9 billion of
assets.
Marsico Capital Management, LLC and BAMCO, Inc. are not
affiliated with SunAmerica Asset Management Corp.
Investors should carefully consider the SunAmerica Focused Alpha
Growth Fund’s investment objective, strategies, risks, charges and
expenses before investing.
THE SUNAMERICA FOCUSED ALPHA GROWTH FUND SHOULD BE CONSIDERED AS
ONLY ONE ELEMENT OF A COMPLETE INVESTMENT PROGRAM. THE FUND’S
EQUITY EXPOSURE AND DERIVATIVE INVESTMENTS INVOLVE SPECIAL RISKS.
AN INVESTMENT IN THIS FUND SHOULD BE CONSIDERED SPECULATIVE.
There is no assurance that the SunAmerica Focused Alpha Growth
Fund will achieve its investment objective. The Fund is actively
managed and its portfolio composition will vary. Investing in the
Fund is subject to several risks, including: Non-Diversified Status
Risk, Growth and Value Stock Risk, Key Adviser Personnel Risk,
Investment and Market Risk, Issuer Risk, Foreign Securities Risk,
Emerging Markets Risk, Income Risk, Hedging Strategy Risk,
Derivatives Risk, Preferred Securities Risk, Debt Securities Risk,
Small and Medium Capitalization Company Risk, Leverage Risk,
Liquidity Risk, Market Price of Shares Risk, Management Risk,
Anti-Takeover Provisions Risk, Portfolio Turnover Risk and
Non-Investment Grade Securities Risk. The price of shares of the
Fund traded on the New York Stock Exchange will fluctuate with
market conditions and may be worth more or less than their original
offering price. Shares of closed-end funds often trade at a
discount to their net asset value, but may also trade at a
premium.
Grafico Azioni Sunamerica (NYSE:FGF)
Storico
Da Mag 2024 a Giu 2024
Grafico Azioni Sunamerica (NYSE:FGF)
Storico
Da Giu 2023 a Giu 2024