RiverNorth Specialty Finance Corporation a closed-end fund, announced the final results of its repurchase offer for up to 5% of its outstanding common shares. The repurchase offer expired at 5:00 P.M. Eastern Time on July 6, 2022.
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Based on information provided by DST Systems, Inc., the depositary for the repurchase offer, a total of 950,169 shares were submitted for redemption and 192,627 shares were repurchased. In accordance with the terms and conditions of the repurchase offer, because the number of shares submitted for redemption exceeds the number of shares offered to purchase, the Fund will purchase shares from tendering shareholders on a pro-rata basis (disregarding fractional shares). The purchase price of repurchased shares is equal to the Fund’s net asset value per share calculated as of the close of regular trading on the New York Stock Exchange (NYSE) on July 6, 2022, which is equal to $18.06 per share.
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The information agent for the repurchase offer is DST Systems, Inc. Any questions with regard to the tender offer may be directed to the information agent toll-free at 844-569-4750.
RiverNorth Capital Management, LLC is an investment management firm founded in 2000. With $5.7 billion1 in assets under management as of May 31, 2022, RiverNorth specializes in opportunistic investment strategies in niche markets where the potential to exploit inefficiencies is greatest. RiverNorth is an institutional investment manager to registered funds, private funds and separately managed accounts.
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