Clough Global Equity Fund Announces Filing for Rights Offering
DENVER--(BUSINESS WIRE)--May 20, 2019--
Clough Global Equity Fund (the “Fund”) announced that a preliminary registration statement will be filed with the Securities and Exchange Commission (“SEC”) relating to the offering of additional common shares of the Fund pursuant to a rights offering. The Fund will be issuing transferable subscription rights (“Rights”) to its common shareholders on a record date to be set by the Fund’s Board of Trustees (the “Record Date” and such shareholders, “Record Date Shareholders”) who will be allowed to subscribe for new common shares of the Fund (the “Primary Subscription”). Record Date Shareholders will receive one Right for each common share held on the Record Date. For every five Rights held, a holder of Rights may buy one new common share of the Fund. Record Date Shareholders who fully exercise all Rights initially issued to them in the Primary Subscription will be entitled to buy those common shares that are not purchased by other holders of Rights.
The rights offering is subject to the effectiveness of the Fund’s Registration Statement to be filed with the SEC and will be made only by means of a prospectus.
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, fees and expenses of the Fund carefully before investing. To obtain a copy of the prospectus, annual report or semi-annual report which contains this and other information about the Fund visit www.cloughglobal.com or call 877-256-8445. Read them carefully before investing.
The Clough Global Equity Fund
The Fund is a closed-end fund utilizing Clough Capital’s research-driven, thematic process, with an investment objective of providing a high level of total return. Having a global, flexible mandate, the Fund will invest at least 80% in equity and equity-related securities in both U.S. and non-U.S. markets, and the remainder in fixed income securities, including corporate and sovereign debt, in both U.S. and non-U.S. markets. The Fund’s portfolio managers are Chuck Clough and Rob Zdunczyk. As of March 31st, 2019 the Fund had approximately $246.9 million in total assets. More information, including the Fund’s dividend reinvestment plan, can be found at www.cloughglobal.com or call 877-256-8445.
Clough Capital Partners L.P.
Clough Capital, a Boston-based investment advisory firm which manages approximately $1.7 billion in assets, serves as investment adviser to the Fund.
The Clough Global Equity Fund is a closed-end fund and closed-end funds do not continuously issue shares for sale as open-end mutual funds do. Since the initial public offering, the Fund now 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.
Forward-looking statements are based on information that is available on the date hereof, and neither the fund manager nor any other person affiliated with the fund manager has any duty to update any forward-looking statements. Important factors that could affect actual results to differ from these statements include, among other factors, material, negative changes to the asset class and the actual composition of the portfolio.
ALPS Portfolio Solutions Distributor, Inc, FINRA Member Firm.
View source version on businesswire.com:https://www.businesswire.com/news/home/20190520005756/en/
CONTACT: Clough Capital Partners L.P.
Ned Burke, ALPS
+1 (303) 623 2577
KEYWORD: UNITED STATES NORTH AMERICA COLORADO
INDUSTRY KEYWORD: PROFESSIONAL SERVICES BANKING FINANCE
SOURCE: Clough Global Equity Fund
Copyright Business Wire 2019.
PUB: 05/20/2019 04:30 PM/DISC: 05/20/2019 04:30 PM