Advent/Claymore Enhanced Growth & Income Fund Announces Final Results of Tender Offer
2017年7月18日 - 5:15AM
Advent/Claymore Enhanced Growth & Income Fund (NYSE:LCM) (the
“Fund”) announced today the final results for its tender offer for
up to 4,420,984 common shares (“Shares”) of the Fund (approximately
32.5% of the outstanding Shares) (the “Tender Offer”). The Tender
Offer commenced on June 12, 2017 and expired on July 11, 2017.
A total of 7,334,932 Shares were duly tendered
and not withdrawn. Because the number of Shares tendered exceeds
4,420,984 Shares, the Tender Offer has been oversubscribed.
Therefore, in accordance with the terms and conditions specified in
the Tender Offer, the Fund will purchase Shares from all tendering
shareholders on a pro rata basis, disregarding fractions.
Accordingly, on a pro rata basis, approximately 60% of Shares for
each shareholder who properly tendered Shares have been accepted
for payment. The Fund expects to transmit payment to purchase the
duly tendered and accepted Shares on or about July 17, 2017. The
purchase price of properly tendered Shares is $9.1532 per Share,
equal to 98% of the net asset value per Share as of July 12, 2017
(the business day immediately following the expiration date of the
Tender Offer). Shares that were tendered but not accepted for
purchase and Shares that were not tendered will remain
outstanding.
Questions regarding the Tender Offer may be
directed to Georgeson, Inc., the information agent for the tender
offer, at (888) 206-0860.
Additional Information
About Advent Capital
ManagementAdvent Capital Management, LLC (“Advent”) is a
registered investment advisor dedicated to providing its clients
with superior investment performance. Advent invests primarily in
convertible, high yield and equity securities offered through long
only, hedge-fund and NYSE-listed closed-end fund products. Advent’s
investment team consists of seasoned professionals performing
bottom-up fundamental research. Since inception in 1995, Advent has
grown into a $9 billion diversified investment management firm (as
of March 31, 2017) with the ability to capture opportunities
globally. Advent’s growing client base includes some of the world’s
largest public and corporate pension plans, foundations,
endowments, insurance companies and high net worth individuals.
Advent is not affiliated with Guggenheim.
About Guggenheim
InvestmentsGuggenheim Investments is the global asset
management and investment advisory division of Guggenheim Partners,
LLC (“Guggenheim”), with $217 billion* in total assets across fixed
income, equity, and alternative strategies. We focus on the return
and risk needs of insurance companies, corporate and public pension
funds, sovereign wealth funds, endowments and foundations,
consultants, wealth managers, and high-net-worth investors. Our
275+ investment professionals perform rigorous research to
understand market trends and identify undervalued opportunities in
areas that are often complex and underfollowed. This approach to
investment management has enabled us to deliver innovative
strategies providing diversification opportunities and attractive
long-term results.
*Guggenheim Investments total asset figure is as
of March 31, 2017. The assets include leverage of $11.7bn for
assets under management and $0.4bn for assets for which we provide
administrative services. Guggenheim Investments represents the
following affiliated investment management businesses of Guggenheim
Partners, LLC: Guggenheim Partners Investment Management, LLC,
Security Investors, LLC, Guggenheim Funds Investment Advisors, LLC
(Investment Advisor for AGC, LCM), Guggenheim Funds Distributors,
LLC (Servicing Agent for AVK), Guggenheim Real Estate, LLC, GS
GAMMA Advisors, LLC, Guggenheim Partners Europe Limited, and
Guggenheim Partners India Management.
This information does not represent an offer to
sell securities of the Fund and it is not soliciting an offer to
buy securities of the Fund. There can be no assurance that the Fund
will achieve its investment objective. The net asset value of the
Fund will fluctuate with the value of the underlying securities. It
is important to note that closed-end funds trade on their market
value, not net asset value, and closed-end funds often trade at a
discount to their net asset value. Past performance is not
indicative of future performance. An investment in the Fund is
subject to certain risks and other considerations. Such risks and
considerations may include, but are not limited to: Investment and
Market Risk; Convertible Securities Risk; Structured and Synthetic
Convertible Securities Risk; Lower Grade Securities Risk; Equity
Securities Risk; Preferred Securities Risk; Derivatives Risk;
Interest Rate Risk; Leverage Risk; Anti-Takeover Provisions;
Foreign Securities Risk; Foreign Currency Risk; Market Disruption
Risk; Risk Associated with the Fund’s Covered Call Option Writing
Strategy; Senior and Second Lien Secured Loan Risk and Illiquidity
Risk. See www.guggenheiminvestments.com/lcm for a detailed
discussion of fund-specific risks.
Investors should consider the investment
objectives and policies, risk considerations, charges and expenses
of any investment before they invest. For this and more information
visit www.guggenheiminvestments.com or contact a securities
representative or Guggenheim Funds Distributors, LLC 227 West
Monroe Street, Chicago, IL 60606, 800-345-7999.
Analyst InquiriesWilliam T.
Korvercefs@guggenheiminvestments.com
NOT FDIC-INSURED | NOT BANK-GUARANTEED | MAY LOSE
VALUE
Member FINRA/SIPC (07/17)
Advent Claymore (NYSE:LCM)
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