The Herzfeld Caribbean Basin Fund, Inc. Announces Preliminary Tender Offer Results
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The Herzfeld Caribbean Basin Fund, Inc. (Nasdaq: CUBA) announced preliminary results of its cash tender offer to buy back up to 5% of its outstanding shares at 97.5% of NAV as of November 15, 2024.
November 18, 2024 | 9:15 pm
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The Herzfeld Caribbean Basin Fund announced preliminary results of its tender offer to repurchase up to 5% of its shares at 97.5% of NAV.
The tender offer indicates a potential reduction in the number of outstanding shares, which can lead to a positive impact on the stock price due to increased demand for the remaining shares. The offer price at 97.5% of NAV suggests confidence in the fund's valuation.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100