Virtus Total Return Fund Inc. Announces Preliminary Results of Tender Offer
02 Mai 2024 - 2:30PM
Business Wire
Virtus Total Return Fund Inc. (NYSE: ZTR) (“the Fund”) today
announced preliminary results of its tender offer (“Tender Offer”)
to acquire 10% of the Fund’s outstanding shares, which expired on
May 1, 2024 at 5 p.m. (Eastern).
Approximately 23,600,666.85 shares were tendered, including
shares tendered pursuant to notices of guaranteed delivery, based
on preliminary information. With the Tender Offer oversubscribed,
the relative number of shares that will be purchased from each
tendering shareholder will be prorated based on the number of
shares properly tendered.
The purchase price of the properly tendered and accepted shares
will be equal to 98% of the Fund’s net asset value per share as of
the close of regular trading on May 2, 2024. The Fund expects to
announce the final results of the Tender Offer on or about May 7,
2024.
About the Fund
Virtus Total Return Fund Inc. is a diversified closed-end fund
whose investment objective is capital appreciation, with income as
a secondary objective. Virtus Investment Advisers, Inc. is the
investment adviser and Duff & Phelps Investment Management Co.
and Newfleet Asset Management are the subadvisers to the Fund. For
more information on the Fund, contact shareholder services at (866)
270-7788, by email at closedendfunds@virtus.com, or through the
Closed-End Funds section of virtus.com.
Fund Risks
An investment in a fund is subject to risk, including the risk
of possible loss of principal. A fund’s shares may be worth less
upon their sale than what an investor paid for them. Shares of
closed-end funds may trade at a premium or discount to their NAV.
For more information about the Fund’s investment objective and
risks, please see the Fund’s annual report. A copy of the Fund’s
most recent annual report may be obtained free of charge by
contacting “Shareholder Services” as set forth at the bottom of
this press release.
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version on businesswire.com: https://www.businesswire.com/news/home/20240502416789/en/
Shareholder Services (866) 270-7788
closedendfunds@virtus.com
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