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Post by xray on Aug 9, 2021 21:02:14 GMT
USA news:
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Liberty All-Star® Equity Fund Announces Rights Offering Mon, August 9, 2021, 4:15 PM
BOSTON, Aug. 9, 2021 /PRNewswire/ -- The Board of Trustees (the "Board") of Liberty All-Star® Equity Fund (NYSE: USA) (the "Fund") has authorized and set the terms of an offering to the Fund's shareholders of rights to purchase additional shares of the Fund.
Shareholders on a record date to be established by the Fund's Board would be issued non-transferable rights entitling them to subscribe for one additional share for every ten shares held (the "Primary Subscription"), with the right to subscribe for additional shares not subscribed for by others in the Primary Subscription. If such over-subscription requests exceed the number of shares available, the Fund may, in its sole discretion, elect to issue additional shares in an amount of up to 25% of the shares issued in the Primary Subscription.
The subscription price per share will be 95 percent of the reported net asset value or market price per share, whichever is lower on the expiration date. Market price per share will be determined based on the average of last reported sales prices of a share on the New York Stock Exchange on the expiration date and the four trading days preceding the expiration date. The offering is subject to the effectiveness of the Fund's Registration Statement to be filed with the Securities and Exchange Commission ("SEC") and will be made only by means of a prospectus.
Current "USA" Data [COB Friday]
-MktPrc 8.41 -Current Best Buy MktPrc: 8.49 Current discount/premium: -0.97 negative Distribution: 9.99%
-Star Rating: 10star -13wk Star rating: 8.83Stars
Report card grade: 88 Power Rating: 97 CapGain Status to date: >6%
NAV increase last wk: -$0.04 -NAV: 8.16 Last weeks analysis score: +339 To Date performance since 12/31: +0.87
Rf [Risk factor]: +0.282
Disclosure: Some of us currently hold a minor position [<2%] in USA....
Live Long and Prosper....
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Post by xray on Aug 10, 2021 15:26:10 GMT
USA RO [First Glance]: Reference: USA benchmarks the performance of its portfolio against the Lipper Large-Cap Core Mutual Fund Average, the Dow Jones Industrial Average, the NASDAQ Composite Index, and the S&P 500 Index.
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One additional share for ten existing shares is not "currently" appealing [IMHO]. The market is exceptionally high and is reflected in their current MktPrc [at premium] as the DJ Industrial Averages, the S&P 500 and NASDAQ are performing beyond normal expectations. At this point in time [month or August], there will be no hurry to commit new funds to USA's RO. USA has not issued the start/close dates for their RO yet, so this is something to look at "next month [September]" when the market could be much lower in MktPrc. An updated [single opinion] viewpoint will be posted during the RO when it is in process....
In a market correction, USA [based on their benchmarks shown above] could drop in MktPrc considerably [IMHO]. Add to this, that their "distribution" [not a dividend] will be reduced "automatically each Qtr]" if/when the NAV drops in value....
Note: Distributions are exceptionally good in "UP" markets when the NAV is "constantly" increasing and will be reflected in constant distribution increases.... Dividends are exceptionally good in "DOWN" markets when the NAV is constantly decreasing and where the CEF managers are not likely to issue x-div information showing a constant "decrease" each and every month/Qtr. Keeping this in mind, can make a difference in how we invest our money [against the current timing of the investment]....
Live Long and Prosper....
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Post by xray on Oct 5, 2021 20:12:19 GMT
USA RO Update:
PR Newswire Liberty All-Star® Equity Fund Announces Record Date for Rights Offering Tue, October 5, 2021, 3:00 PM
USA +0.87%
BOSTON, Oct. 5, 2021 /PRNewswire/ -- The Liberty All-Star® Equity Fund (NYSE: USA) today announced that it has set the record date for its previously announced rights offering.
The Fund is issuing non-transferable rights ("Rights") to its shareholders of record ("Record Date Shareholders") at the close of business on October 15, 2021. Record Date Shareholders will receive one Right for each share held and will be allowed to purchase one additional share of the Fund for each ten Rights received (the "Primary Subscription"). Shareholders who fully exercise their Rights may subscribe for additional shares not subscribed for by other shareholders in the Primary Subscription. If such over-subscription requests exceed the number of shares available, the Fund may, in its sole discretion, elect to issue additional shares in an amount of up to 25% of the shares issued in the Primary Subscription.
The offering is subject to the effectiveness of the Fund's Registration Statement currently on file with the Securities and Exchange Commission ("SEC") and will be made only by means of a prospectus. The rights offering is expected to commence on or about October 21, 2021 and to expire on or about November 22, 2021. The subscription price per share will be 95 percent of the reported net asset value or market price per share, whichever is lower on the expiration date. Market price per share will be determined based on the average of last reported sales prices of a share on the New York Stock Exchange on the expiration date and the four trading days preceding the expiration date.
A final Registration Statement relating to the securities has not been filed with the SEC as of the date of this release. These securities may not be sold nor may offers to purchase be accepted prior to the time the Registration Statement becomes effective with the SEC.
This press release shall not constitute an offer to sell or constitute a solicitation of an offer to buy. Investors should read the prospectus, when available, and consider the investment objective, risks, charges and expenses of the Fund carefully before investing.
The Fund does not continuously issue shares and trades in the secondary market. Investors wishing to buy or sell shares need to place orders through an intermediary or broker. The share price of a closed-end fund is based on the market's value. The Fund's shares are listed on the New York Stock Exchange under the ticker symbol USA. ALPS Advisors, Inc. is the investment advisor of the Fund, a multi-managed, closed-end investment company with more than $1.7 billion in net assets as of October 4, 2021.
Past performance cannot predict future results. An investment in the Fund involves risk, including loss of principal.
Disclosure: Some of us currently hold a minor position [<2%] in USA....
Live Long and Prosper....
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Post by xray on Nov 23, 2021 21:21:33 GMT
PR Newswire Liberty All-Star® Equity Fund Announces Results of Rights Offering Tue, November 23, 2021, 12:00 PM
USA +0.24%
BOSTON, Nov. 23, 2021 /PRNewswire/ -- The Liberty All-Star® Equity Fund (NYSE: USA) today announced that based on results provided by the Fund's subscription agent its rights offering, which expired on November 22, 2021, was fully subscribed. The Fund will issue 27,979,915 shares, which represents the entire 22,383,932 primary subscription shares in the offering, plus 5,595,983 additional shares made available by means of the secondary over-subscription privilege. Since there were not sufficient shares to honor all over-subscription requests, available shares will be allocated among those shareholders who over-subscribed based on the number of shares held on the record date.
The Subscription Price per share is $7.78, which represents 95 percent of the net asset value of a share on the Expiration Date.
The Fund does not continuously issue shares and trades in the secondary market. Investors wishing to buy or sell shares need to place orders through an intermediary or broker. The share price of a closed-end fund is based on the market's value. The Fund's shares are listed on the NYSE under the ticker symbol USA. ALPS Advisors, Inc. is the investment advisor of the Fund, a multi-managed, closed-end investment company with more than $1.8 billion in net assets as of November 22, 2021.
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Live Long and Prosper....
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