Form 8-K - Current report
May 16 2024 - 4:08PM
Edgar (US Regulatory)
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0000917100
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2024-05-15
2024-05-15
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
May 16, 2024 (May 15, 2024)
The India Fund, Inc.
(Exact name of registrant as specified in its
charter)
Maryland |
|
811-08266 |
|
13-3749070 |
(State or other jurisdiction
of incorporation) |
|
(Commission
File Number) |
|
(IRS Employer
Identification No.) |
|
|
1900 Market Street, Suite 200
Philadelphia, PA |
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19103 |
(Address of principal executive offices) |
|
(Zip Code) |
Registrants telephone number, including area
code (800)-522-5465
(Former name or former address, if changed since
last report.)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
|
¨ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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¨ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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¨ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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¨ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered |
Common
Stock of Beneficial Interest |
IFN |
New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities
Exchange Act of 1934 (§240.12b-2 of this chapter).
¨
Emerging growth company
If an emerging growth company, indicate
by check mark if the registrant has elected not to use the extended transition period for complying with new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act. ¨
On May 15, 2024, the Fund issued a press release, included herewith
as Exhibit 99.1, and by this reference incorporated herein, announcing the results of the Fund’s transferable rights offering to
holders of the Fund’s common stock of beneficial interest (“Common Stock”), which entitled the holders of those Rights
to subscribe for up to an aggregate amount of 10,352,100 shares of Common Stock. The Rights exercised in the offering will result in the issuance of 6,442,659 shares of Common Stock.
Item 9.01 |
Financial Statements and Exhibits. |
SIGNATURE
Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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The India Fund, Inc. |
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Date: May 16, 2024 |
By: |
/s/ Lucia Sitar |
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Name: |
Lucia Sitar |
|
Title: |
Vice President and Chief Legal Officer |
Exhibit 99.1
![](https://www.sec.gov/Archives/edgar/data/917100/000110465924062521/tm2414114d1_ex99-1img001.jpg)
Press Release
FOR IMMEDIATE RELEASE
For More Information Contact:
abrdn Inc.
abrdn U.S. Closed-End Funds
Investor Relations
1-800-522-5465
Investor.Relations@abrdn.com
THE INDIA FUND, INC. ANNOUNCES
FINAL RESULTS OF ITS RIGHTS OFFERING
(Philadelphia,
May 15, 2024) – The India Fund, Inc. (NYSE: IFN) (the “Fund”), a closed-end fund, announced
today the successful completion of its transferable rights (“Rights”) offering (the “Offer”). The Offer commenced
on April 19, 2024, and expired on May 14, 2024 (the “Expiration Date”).
The
Offer entitled Rights holders to subscribe for shares of the Fund’s common stock of beneficial interest, par value $0.001 per share
(“Common Stock”). The final subscription price was $17.75 per share of Common Stock and was determined based upon 93% of
the Fund’s net asset value (“NAV”) per share of Common Stock at the close of trading on the New York Stock Exchange
(“NYSE”) on the Expiration Date, which was greater than the formula of 92.5% of the average of the last reported sales price
of a share of Common Stock on the NYSE on the Expiration Date and each of the four (4) immediately preceding trading days. The Rights
exercised in the Offer (including pursuant to over-subscription requests and notices of guaranteed delivery) will result in the issuance
and sale of 6,237,159 shares of Common Stock, and gross proceeds of the Offer are expected to be approximately $110 million.
The shares of Common Stock subscribed for will be issued after completion
of the allocation of the over-subscription shares of Common Stock and receipt of all shareholder payments. The shares of Common Stock
are expected to be issued on or about May 21, 2024.
*
* *
This press release shall not constitute an offer to sell or constitute
a solicitation of an offer to buy. Investors should read the prospectus supplement and accompanying prospectus, when available, and consider
the investment objective, risks, fees, and expenses of the Fund carefully before investing. This press release is not an offer to sell
these securities and is not soliciting offers to buy these securities in any jurisdiction where the offer or sale is not permitted.
The Fund is managed and advised by abrdn Asia Limited. The Common
Stock trades on the NYSE under the symbol “IFN”.
In the United States, abrdn is the marketing name for the following
affiliated, registered investment advisers: abrdn Inc., abrdn Investments Limited, abrdn Asia Limited, abrdn Private Equity (Europe)
Limited, and abrdn ETFs Advisors LLC.
Closed-end funds are traded on the secondary market through one of
the stock exchanges. The Fund’s investment return and principal value will fluctuate so that an investor’s shares of Common
Stock may be worth more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount)
the NAV of the fund’s portfolio. There is no assurance that the Fund will achieve its investment objective. Past performance does
not guarantee future results.
If you wish to receive
this information electronically, please contact Investor.Relations@abrdn.com
abrdnifn.com
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