Clough Global Opportunities Fund announces an Equity Buyback for 19,334,647 shares, representing 37.5% of its issued share capital.
October 13, 2017 at 05:00 am
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Clough Global Opportunities Fund announces a share repurchase program. Under the offer, the company will repurchase up to 19,334,647 shares, representing 37.5% of its outstanding shares. The repurchase price to be paid for the common shares is equal to 98.5% of the net asset value calculated after the expiration date of the offer. The offer is intended to provide shareholders with an alternative source of liquidity for their common shares and to enhance long-term shareholder value. The company intends to use cash on hand and proceeds from the sale of its portfolio securities. The offer will expire on November 10, 2017, unless extended. As of October 6, 2017, the company had 51,559,059 common shares outstanding.
Jay Spinola and Rose DiMartino of Willkie Farr & Gallagher LLP acted as legal advisors, American Stock Transfer & Trust Company, LLC acted as depositary, Okapi Partners LLC acted as information agent and DST Systems, Inc. acted as transfer agent to the company for the offer.
Clough Global Opportunities Fund (the Fund) is a closed-end management investment company. The Fundâs investment objective is to provide a high level of total return and current income. It seeks to achieve its objective by applying a fundamental research-driven investment process. It will invest in equity and equity-related securities, as well as fixed-income securities, including both corporate and sovereign debt. Its investment portfolio includes common stocks, preferred stocks, corporate bonds, convertible corporate bonds, asset-backed securities, convertible corporate bonds, and government and agency obligations. It invests in various sectors, such as consumer discretionary, energy, financials, healthcare, industrials, information technology, real estate, and communications services. The Fund holds investments in various countries, including the United States, China, France, Germany, Switzerland, Canada, and Hong Kong. Investment advisor of the Fund is Clough Capital Partners L.P.
CLOUGH GLOBAL OPPORTUNITIES FUND 
