NEW
YORK, May 24, 2022 /PRNewswire/ -- Neuberger
Berman High Yield Strategies Fund Inc. (NYSE American: NHS)
(the "Fund") announced today the final results of its transferable
rights offering (the "Offer"), which expired at 5:00 PM Eastern Time on May 17, 2022 (the "Expiration Date").
The final subscription price per share of common stock ("Common
Stock") was $8.60, which 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. The
Offer will result in the issuance of 4,763,981 shares of Common
Stock. The gross proceeds of the Offer are expected to be
approximately $40.9 million.
The shares of Common Stock subscribed for are expected to be issued
on or about May 25, 2022. The
Fund will return to subscribing investors the full amount of any
excess payments.
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