Saba Capital Reaches Agreement With Virtus Dividend, Interest & Premium Strategy Fund
NFJ to Conduct Cash Self-Tender Offer for 25% of Outstanding Shares at 99% of NAV
In connection with the agreement, the Fund will commence a cash self-tender offer to purchase up to 25% of its outstanding common shares. All shareholders will have the opportunity to tender some or all of their common shares at a price equal to 99% of the Fund’s net asset value per share, determined as of market close on the date the tender offer expires. The tender offer is expected to be completed by no later than
If greater than 25% of the Fund’s outstanding common shares are properly tendered and not properly withdrawn, then the Fund will purchase common shares tendered and not withdrawn on a prorated basis. If less than 25% of the Fund’s outstanding common shares are properly tendered and not withdrawn, then the Fund will only be obligated to purchase those shares actually tendered.
Pursuant to the terms of the agreement, Saba has withdrawn its previously submitted nomination in connection with the Fund’s 2026 annual meeting of shareholders. The agreement also includes customary standstill provisions and voting commitments.
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