NexPoint Strategic Opportunities Fund (NYSE:NHF today announced the commencement of an issuer tender offer pursuant to Rule 13e-4 under the Securities Exchange Act of 1934 (the "Exchange Act") for up to 15 million of its common shares. The Company will purchase Common Shares at a maximum aggregate purchase price of $150 million in exchange for consideration consisting of approximately 20% cash and 80% newly-issued shares of the Company's 5.50% Series A Cumulative Preferred Shares valued at their liquidation preference $25.00 per share ("Series A Preferred Shares") (collectively, the "Exchange Offer").
The Company announced the Exchange Offer in a press release on October 15, 2020. The Exchange Offer will expire on December 10, 2020 at 5:00 p.m. EST (the "Expiration Date"), unless extended in accordance with the terms of the Exchange Offer.
Any questions about the Exchange Offer or requests for assistance in tendering Shares can be directed to the Company's Information Agent, AST Fund Solutions, LLC. The Company's Information Agent can be reached toll-free at (800) 829-6554.
The Exchange Offer is not expected to have any effect on the Company's conversion to a real estate investment trust (a "REIT", and the conversion, the "Conversion"). The Company currently intends to continue with the Conversion process regardless of the outcome of the Exchange Offer.
About the NexPoint Strategic Opportunities Fund (NHF)
The NexPoint Strategic Opportunities Fund (NYSE:NHF) is a closed-end fund managed by NexPoint Advisors, L.P. that is in the process of converting to a diversified REIT. On August 28, 2020, shareholders approved the Conversion proposal and amended the Company's fundamental investment policies and restrictions to permit the Company to pursue its new business. The Company is in the process of realigning its portfolio so that it is no longer an "investment company" under the Investment Company Act of 1940 (the "1940 Act") and continues to expect the Company to be able to transition its investment portfolio sufficient to qualify as a REIT for tax purposes by the first quarter of 2021 and to apply to the Securities and Exchange Commission (the "SEC") for an order under the 1940 Act declaring that the Company has ceased to be an investment company (the "Deregistration Order") in the first half of 2021.
For more information visit www. www.nexpointgroup.com/nexpoint-strategic-opportunities-fund/
About NexPoint Advisors, L.P.
NexPoint Advisors, L.P. (the "Investment Adviser") is an SEC-registered adviser on the NexPoint alternative investment platform. It serves as the adviser to a suite of funds and investment vehicles, including a closed-end fund, interval fund, business development company, and various real estate vehicles.
For more information visit www.nexpointgroup.com
