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Thomas J. Herzfeld Advisors, Inc., an SEC-registered investment advisor, today announced the commencement of a Tender Offer by The Herzfeld Caribbean Basin Fund, Inc. (NASDAQ:CUBA) (the "Fund"). Under the terms of the Tender Offer the Fund is offering to purchase up to 10% of outstanding shares of the Fund at 97.5% of NAV.
The Fund announced the Tender Officer in a press release on February 9, 2024.
The Fund has offered to purchase up to 10% of the currently outstanding common shares of the Fund, par value $0.001 per share (the "Common Shares") at 97.5% of Net Asset Value ("NAV") per Common Share (determined as of the close of ordinary trading on the NASDAQ Capital Market on March 19, 2024) for cash, upon the terms and subject to the conditions contained in the Offer to Purchase dated February 20, 2024 and the related Letter of Transmittal. Shareholders of the Fund should read the Offer to Purchase, the Letter of Transmittal and related exhibits, as they will contain important information about the Tender Offer. These and other filed documents will be available to investors for free both at the website of the Securities and Exchange Commission (www.sec.gov) and from the Fund (www.herzfeld.com/CUBA).
Posted In: CUBA
