Virtus Total Return Fund Inc. Announces Final Results of Tender Offer
May 07 2024 - 8:30AM
Business Wire
Virtus Total Return Fund Inc. (NYSE: ZTR) (“the Fund”) today
announced final results of its tender offer (“Tender Offer”) to
acquire 10% of its outstanding shares, which expired May 1, 2024 at
5:00 p.m. eastern time.
The Fund accepted 6,857,832 shares, representing 10% of its
outstanding shares, for payment on or about May 8, 2024. A total of
23,504,666.8517 shares were properly tendered. Therefore, on a
prorated basis, approximately 29.18% of the shares tendered by each
tendering stockholder have been accepted for payment.
The purchase price of the accepted shares is 98% of the Fund’s
net asset value per share determined as the close of regular
trading session of the New York Stock Exchange on May 2, 2024,
which is equal to $5.9976 per share.
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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For Further Information:
Shareholder Services (866) 270-7788 closedendfunds@virtus.com
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