NEW
YORK, May 18, 2022 /PRNewswire/
-- Neuberger Berman High Yield Strategies Fund Inc. (NYSE
American: NHS) (the "Fund") announced today the completion of
its transferable rights offering (the "Offer"), which commenced on
April 19, 2022 and expired on
May 17, 2022 (the "Expiration
Date").
Pursuant to the Offer, the Fund issued one transferable right (a
"Right") for each share of common stock of the Fund ("Common
Stock") held by stockholders of record as of April 19, 2022. Holders of Rights were
entitled to purchase Common Stock by submitting three Rights and
the subscription price per share for each share purchased.
The final subscription price of $8.60 per share of Common Stock was equal to 87%
of the Fund's net asset value per share of Common Stock at the
close of trading on the NYSE American on the Expiration Date.
Based on the preliminary results, the Offer is expected to
result in the issuance of approximately 4,811,400 shares of Common
Stock and the gross proceeds of the Offer are expected to be
approximately $41.3 million.
The shares of Common Stock subscribed for will be issued promptly
after receipt of all stockholder payments. The Fund will
return to subscribing investors the full amount of any excess
payments. The final results of the Offer will be announced at
a later date.
The information in this press release is not complete and is
subject to change. This document is not an offer to sell any
securities and is not soliciting an offer to buy any securities in
any jurisdiction where the offer or sale is not permitted. This
document is not an offering, which can only be made by a
prospectus. Investors should consider the Fund's investment
objective, risks, charges and expenses carefully before investing.
The Fund's prospectus supplement and accompanying prospectus
contain this and additional information about the Fund and
additional information about the Offer, and should be read
carefully before investing.
Inquiries regarding the Offer should be directed to the Fund's
Information Agent, Georgeson LLC, at 1-866-647-8872.
About Neuberger Berman High Yield Strategies Fund
Inc. The Fund's investment objective is to seek high total
return (income plus capital appreciation). Under normal market
conditions, the Fund invests at least 80% of its total assets in
high yield debt (below investment grade) securities of U.S. and
foreign issuers, and up to 20% of its total assets in other
securities and financial instruments.
About Neuberger Berman
Neuberger Berman, founded in 1939, is a private, independent,
employee-owned investment manager. The firm manages a range of
strategies—including equity, fixed income, quantitative and
multi-asset class, private equity, real estate and hedge funds—on
behalf of institutions, advisors and individual investors globally.
With offices in 25 countries, Neuberger Berman's diverse team has
over 2,500 professionals. For eight consecutive years, the company
has been named first or second in Pensions & Investments Best
Places to Work in Money Management survey (among those with 1,000
employees or more). In 2020, the PRI named Neuberger Berman a
Leader, a designation awarded to fewer than 1% of investment firms
for excellence in Environmental, Social and Governance (ESG)
practices. The PRI also awarded Neuberger Berman an A+ in every
eligible category for our approach to ESG integration across asset
classes. The firm manages $447
billion in client assets as of March
31, 2022. For more information, please visit our website at
www.nb.com.
Statements made in this release that look forward in time
involve risks and uncertainties. Such risks and uncertainties
include, without limitation, the adverse effect from a decline in
the securities markets or a decline in the Fund's performance, a
general downturn in the economy, competition from other closed end
investment companies, changes in government policy or regulation,
inability of the Fund's investment adviser to attract or retain key
employees, inability of the Fund to implement its investment
strategy, inability of the Fund to manage rapid expansion and
unforeseen costs and other effects related to legal proceedings or
investigations of governmental and self-regulatory
organizations.
Contact:
Neuberger Berman Investment Advisers
LLC
Investor Information
(877) 461-1899
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SOURCE Neuberger Berman