Herzfeld Credit Income Fund to buy back shares pro rata after tender oversubscription
Herzfeld Credit Income Fund received tenders for 1,445,539 shares against a 100,886-share offer, so it will buy back a pro-rata allocation at $18.2033.
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what happened
According to Reuters, Herzfeld Credit Income Fund Inc reported preliminary results of its tender offer. Shareholders tendered 1,445,539 shares, while the fund had offered to buy 100,886 shares. Because the offer was oversubscribed, the fund expects to purchase only a pro-rata allocation of the shares properly tendered.
The tender price is $18.2033 per share. The fund expects to announce final results on or about October 20, 2026. Because purchases are proportional, each shareholder who tendered will have only part of their request filled.
why it matters
Oversubscription means a large share of tenders will not be filled in full. For investors, the outcome matters because not everyone who tendered will be able to exit at the stated price, and final figures will be available once the results are published.
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instruments
sources
- Herzfeld Credit Income Fund Expects To Purchase A Pro-Rata Allocation Of Shares Properly Tendered In Offer, Due To Oversubscription — Reuters, 19 October 2026 at 22:11 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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