Stock Alert: NexPoint Strategic Opportunities Fund Shares Up 9%
Shares of NexPoint Strategic Opportunities Fund (NHF) are rising over 9% Thursday morning, after the company announced its plan to conduct an issuer tender offer pursuant to Rule 13e-4 under the Securities Exchange Act of 1934 for up to 15 million of its common shares, at a maximum aggregate purchase price of $150 million, in exchange for consideration consisting of about 80% preferred shares and 20% cash.
The Preferred Shares are expected to be rated by a nationally recognized statistical rating organization and listed on the New York Stock Exchange.
The stock has been trading in the range of $6.30 – $18.05 for the past one year, and is currently trading at $9.19, up 83 cents or 9.694 in Thursday’s regular trading session. Trading volume is rising over 424K versus an average volume of 223K shares.
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