Western Asset Global High Income Fund Announced The Final Results Of Its Transferable Rights Offering; The Final Subscription Price Per Share Was $6.60. The Offer Will Result In The Issuance Of 7,574,935 Shares Of Common Stock. The Gross Proceeds Of The Offer Are Expected To Be ~$50M. The Shares Of Common Stock Subscribed For Are Expected To Be Issued On Or About October 16, 2024. The Fund Will Return To Subscribing Investors The Full Amount Of Any Excess Payments.
Portfolio Pulse from Benzinga Newsdesk
Western Asset Global High Income Fund (NYSE:EHI) completed its transferable rights offering, resulting in the issuance of 7,574,935 shares at a subscription price of $6.60 per share, raising approximately $50 million. The shares are expected to be issued on October 16, 2024.
October 15, 2024 | 12:11 pm
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Western Asset Global High Income Fund completed its rights offering, issuing 7,574,935 shares at $6.60 each, raising approximately $50 million. The shares are expected to be issued on October 16, 2024.
The completion of the rights offering and the issuance of new shares at a price below the net asset value could lead to a neutral short-term impact on EHI's stock price. The offering raises capital but also dilutes existing shares.
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