SunAmerica Focused Alpha Growth Fund In-Kind Tender Offer

Tender Price: 
$18.05
Ticker: 
FGF
Last Trade: 
$16.39
Potential Gain: 
10.1281%
Potential Gain Max: 
-100.00%
Tender amount: 
Up to 30% of the outstanding shares
Expires: 
Nov 18 2010 - 17:00
Phase: 
Completed

Notes:

SunAmerica Focused Alpha Growth Fund, Inc. (NYSE: FGF) (the “Fund”) announced today that in connection with its previously announced offer (the “Offer”) to acquire up to 30% of the Fund’s outstanding shares at a price equal to 98.5% of the Fund’s NAV per share as of the close of regular trading on the New York Stock Exchange on the business day immediately following the day the offer expires (“Pricing Date”), in exchange for a pro rata distribution of the Fund’s portfolio securities (subject to certain exceptions), the Fund will pay cash in lieu of delivering any “odd lot” of portfolio securities (i.e., fewer than 100 shares) to a participating shareholder. Deliverable positions of portfolio securities of 100 or more shares will be paid in-kind. In addition, the Offer period has been extended and will expire at 5:00 p.m. Eastern time on November 18, 2010, unless further extended (the “Expiration Date”). The Pricing Date is expected to be November 19, 2010.

NAV as of 11/05/2010: $18.41

98.5% of NAV is $18.05 as of 11/05/2010

Preliminary Results: November 19, 2010 – SunAmerica Focused Alpha Growth Fund, Inc. (NYSE: FGF) (the “Fund”) announced today that based upon current information, approximately 13,811,673 shares, or 67.9% of the Fund’s outstanding shares of common stock, were tendered and not withdrawn in response to the Fund’s in-kind tender offer (the “Offer”), which expired on November 18, 2010 at 5:00 p.m., Eastern time (the “Expiration Date”). These figures are subject to adjustment and should not be regarded as final.

Under the terms of the Offer, the Fund offered to acquire up to 30% of its outstanding shares at a price equal to 98.5% of the Fund’s NAV per share as of the close of regular trading on the New York Stock Exchange on the business day immediately following the day the offer expires (“Pricing Date”), in exchange for a pro rata distribution of the Fund’s portfolio securities (subject to certain exceptions, including that the Fund will pay cash in lieu of delivering any “odd lot” of portfolio securities (i.e., fewer than 100 shares)). Because the number of shares tendered exceeded 30% of the Fund’s outstanding shares, the Fund will purchase tendered shares on a pro rata basis. The pro rata portion of the Fund’s portfolio securities and any applicable cash will be transferred to participating stockholders as soon as practicable following the Expiration Date.

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