MSC INCOME FUND, INC. MSCF
Not traded — nothing to buy
Read automatically from the filing
The filing says these shares are not traded on any market. The odd-lot term may be real, but there is no way to buy the shares, so there is no trade here.
In a Dutch auction, tendering too high can cost you the priority. The company picks the lowest price that buys the shares it wants, and everyone at or below that price gets it. Tender above it and your shares come back unpurchased — and because you are not in the accepted pool at all, the odd-lot priority never applies. Most offers have a box meaning "accept whatever price is determined", which keeps you in the pool; the trade-off is that you give up any say in the price. The filing explains both.
| Status | Closed |
|---|---|
| Closing date | 2023-09-20 |
| How it is priced | Dutch auction |
| Odd-lot threshold | — |
| Must tender everything you hold | Not stated |
| Must tick the odd-lot box on the form | Not stated |
Where each of these comes from
Every line above was read out of the filing. Here is the wording it was read from, so you can check it.
expiry = 2023-09-20...any’s stockholders in the offer. See pages 7 - 8 for more information. • Forms to participate in the tender are available on the Company’s website at www.mscincomefund.com/investors. • The offer will remain open until 5:00pm Central Time, September 20, 2023, unless extended or withdrawn. Documents should be submitted to the address below: Mail to: MSC Income Fund, Inc. | P.O. Box 219406 | Kansas City, MO 64121-9406 Overnight: MSC Income Fund, Inc. | 430 W. 7th St. Suite 219406 | Kansas City,...
mechanism = DUTCHEX-99.A1E1 7 a2023_augxmsifdutchaucti.htm EX-99.A1E1 a2023_augxmsifdutchaucti mscincomefund.comMSC Income Fund, Inc. Page 1 Modified Dutch Auction Tender Offer Summary and FAQ’s August 2023 MSC Income Fund, Inc. mscincomefund.com INCOME FUND mscincomefund.comMSC Income Fund, Inc. Page 2 Disclaimers MSC Income Fund, Inc. (MSIF or the Company) cautions that statements in this presentation that are forward-looking, and provide other than historical information, involve risks and uncer...
priority = True...rtion of the proceeds from shares issued through the Company’s dividend reinvestment plan. • These quarterly tender offers have historically been “oversubscribed” and as a result, the Company repurchases shares on a pro-rata basis from tendering shareholders, subject to “odd lot” 1 priority. (1) Accounts holding 100 shares or less. mscincomefund.comMSC Income Fund, Inc. Page 5 MSIF Announces Modified Dutch Auction Tender Offer While this tender offer is not a full “liquidity event”, the Company views this tender offer as providing an additional liquidity option to shareholders with an increased desire for current liquidity...
txn_type = TENDER_OFFER...nc. Page 9 Frequently Asked Questions Q: What is the Clearing Price and how will it be determined? A: The Clearing Price is the price at which the Purchasers are able to purchase the full tender offer amount. The following table is a hypothetical result of an offer to purchase $3,500,000 of shares at prices from $4.50 to $7.74: In this example, $6.50 is the Clearing Price. The Purchasers would select the price of $6.50 and all tendering shareholders would receive the Clearing Price of $6.50 per share. Because the $6.50 per share prices results in the offer being oversubscribed, unless the Purchasers elect to i...
The filings
| Filed | Form | Role | On EDGAR |
|---|---|---|---|
| 2023-08-16 | SC TO-I | original (governing) | View |