Adams Diversified Equity Fund Announces Tender Offer Results
Adams Diversified Equity Fund (NYSE: ADX) has announced the final results of its tender offer to purchase up to 12,405,174 common shares at $22.47 per share, which is 98% of the $22.93 net asset value per share (NAV) as of August 2, 2024. The offer was oversubscribed, with a total of 41,882,825 shares validly tendered. Due to the high demand, ADX will purchase shares on a pro rata basis with a proration factor of 29.61876%. The Fund has accepted for payment all 12,405,174 common shares subject to the tender offer, and payment for accepted shares and return of unpurchased shares will occur promptly. Shareholders with questions can contact EQ Fund Solutions, at (888) 886-4425.
Il Adams Diversified Equity Fund (NYSE: ADX) ha annunciato i risultati finali della sua offerta pubblica di acquisto per acquisire fino a 12.405.174 azioni ordinarie al prezzo di $22,47 per azione, corrispondente al 98% del valore patrimoniale netto per azione (NAV) di $22,93 al 2 agosto 2024. L'offerta ha registrato una sovrascrittura, con un totale di 41.882.825 azioni valide presentate. A causa dell'elevata domanda, ADX acquister脿 le azioni su base pro rata con un fattore di pro-rata del 29,61876%. Il Fondo ha accettato per il pagamento tutte le 12.405.174 azioni ordinarie soggette all'offerta pubblica, e il pagamento per le azioni accettate e il ritorno delle azioni non acquistate avverr脿 prontamente. Gli azionisti con domande possono contattare EQ Fund Solutions al numero (888) 886-4425.
El Adams Diversified Equity Fund (NYSE: ADX) ha anunciado los resultados finales de su oferta p煤blica para adquirir hasta 12,405,174 acciones ordinarias a $22.47 por acci贸n, lo que representa el 98% del valor neto de los activos por acci贸n (NAV) de $22.93 al 2 de agosto de 2024. La oferta fue sobre suscrita, con un total de 41,882,825 acciones presentadas v谩lidamente. Debido a la alta demanda, ADX comprar谩 las acciones de manera prorrata con un factor de prorrateo del 29.61876%. El Fondo ha aceptado para el pago todas las 12,405,174 acciones ordinarias sujetas a la oferta, y el pago por las acciones aceptadas y el retorno de las acciones no compradas se realizar谩 de inmediato. Los accionistas con preguntas pueden contactar a EQ Fund Solutions al (888) 886-4425.
Adams Diversified Equity Fund (NYSE: ADX)臧� 斓滊寑 12,405,174欤茧ゼ 欤茧嫻 $22.47鞐� 毵れ瀰頃橂姅 斓滌 瓴瓣臣毳� 氚滍憸頄堨姷雼堧嫟. 鞚措姅 2024雲� 8鞗� 2鞚� 旮办鞙茧 欤茧嫻 $22.93鞚� 靾滌瀽靷瓣皜旃�(NAV)鞚� 98%鞐� 頃措嫻頃╇媹雼�. 鞚� 鞓ろ嵓電� 瓿茧弰頃橁矊 甑弲霅橃棃鞙茧┌, 齑� 41,882,825欤缄皜 鞙犿毃頃橁矊 鞝滌稖霅橃棃鞀惦媹雼�. 雴掛潃 靾橃殧搿� 鞚疙暣 ADX電� 29.61876%鞚� 牍勳湪搿� 欤检嫕鞚� 毵れ瀰頃� 瓴冹瀰雼堧嫟. 韼�霌滊姅 鞛呾鞍鞐� 霐半澕 12,405,174欤检潣 氇摖 氤错喌欤茧ゼ 瓴办牅頃橁赴搿� 靾橂澖頃橃榾鞙茧┌, 靾橂澖霅� 欤检嫕鞐� 雽�頃� 瓴办牅鞕� 氙戈惮毵� 欤检嫕鞚� 氚橅櫂鞚� 歃夓嫓 鞚措（鞏挫 瓴冹瀰雼堧嫟. 氍胳潣靷暛鞚� 鞛堧姅 欤检＜霌れ潃 EQ Fund Solutions鞐� (888) 886-4425搿� 鞐半澖頃橃嫟 靾� 鞛堨姷雼堧嫟.
Le Adams Diversified Equity Fund (NYSE: ADX) a annonc茅 les r茅sultats finaux de son offre publique d'achat visant 脿 acqu茅rir jusqu'脿 12 405 174 actions ordinaires au prix de 22,47 $ par action, ce qui repr茅sente 98 % de la valeur nette d'inventaire par action (NAV) de 22,93 $ au 2 ao没t 2024. L'offre a 茅t茅 sursouscrite, avec un total de 41 882 825 actions valablement pr茅sent茅es. En raison de la forte demande, ADX ach猫tera les actions au prorata avec un facteur de prorata de 29,61876 %. Le Fonds a accept茅 de payer toutes les 12 405 174 actions ordinaires soumises 脿 l'offre et le paiement des actions accept茅es ainsi que le retour des actions non achet茅es se fera rapidement. Les actionnaires ayant des questions peuvent contacter EQ Fund Solutions au (888) 886-4425.
Der Adams Diversified Equity Fund (NYSE: ADX) hat die endg眉ltigen Ergebnisse seines Angebots zur 脺bernahme von bis zu 12.405.174 Stammaktien zu 22,47 $ pro Aktie bekannt gegeben, was 98 % des Nettoverm枚genswerts pro Aktie (NAV) von 22,93 $ zum 2. August 2024 entspricht. Das Angebot war 眉berzeichnet, mit insgesamt 41.882.825 g眉ltig eingereichten Aktien. Aufgrund der hohen Nachfrage wird ADX die Aktien anteilig mit einem Quotienten von 29,61876 % kaufen. Der Fonds hat die Zahlung f眉r alle 12.405.174 Stammaktien, die dem Angebot unterliegen, akzeptiert, und die Zahlung f眉r die akzeptierten Aktien sowie die R眉ckgabe der nicht gekauften Aktien erfolgt zeitnah. Aktion盲re mit Fragen k枚nnen EQ Fund Solutions unter der Nummer (888) 886-4425 kontaktieren.
- Successful completion of tender offer
- High demand for tender offer with 3.37 times oversubscription
- Purchase price of $22.47 per share, close to NAV
- Significant shareholder dilution due to large number of shares repurchased
- Only 29.61876% of tendered shares accepted due to oversubscription
BALTIMORE, Aug. 05, 2024 (GLOBE NEWSWIRE) -- Adams Diversified Equity Fund, Inc. (NYSE: ADX) announced today the final results of its offer to purchase up to 12,405,174 of its common shares at
Based on the final count by Equiniti Trust Company, LLC (鈥淓Q鈥�), the depositary for the tender offer, a total of 41,882,825 common shares of ADX were validly tendered and not withdrawn.聽The total amount of shares tendered exceeded the offer amount, and the Fund will purchase tendered shares on a pro rata basis, disregarding fractions. The proration factor for shares purchased pursuant to the offer is
In accordance with the terms and conditions of the tender offer, ADX has accepted for payment all 12,405,174 common shares subject to the tender offer.
Payment for the shares accepted for purchase under the tender offer and return of all other shares tendered and not purchased will occur promptly.
EQ Fund Solutions, LLC is the information agent for the Offer. Shareholders with questions may call EQ Fund Solutions, LLC at (888) 886-4425.
About Adams Funds
Since 1929, Adams Funds has consistently helped generations of investors reach their investment goals. Adams Funds is comprised of two closed-end funds, Adams Diversified Equity Fund, Inc. (NYSE: ADX) and Adams Natural Resources Fund, Inc. (NYSE: PEO). The Funds are actively managed by an experienced team with a disciplined approach and have paid dividends for more than 85 years across many market cycles. The Funds are committed to paying a minimum annual distribution rate of
For further information please contact: adamsfunds.com/about/contact or 800.638.2479
Statements in this press release that are not historical facts are 鈥渇orward-looking statements鈥� as defined by the U.S. securities laws. You should exercise caution in interpreting and relying on forward-looking statements because they are subject to uncertainties and other factors which are, in some cases, beyond the Fund鈥檚 control and could cause actual results to differ materially from those set forth in the forward-looking statements. All forward-looking statements are as of the date of this release only; the Fund undertakes no obligation to update or review any forward-looking statements.
FAQ
What was the final result of Adams Diversified Equity Fund's (ADX) tender offer?
How many shares were tendered in ADX's tender offer on August 5, 2024?
What was the proration factor for ADX's tender offer in August 2024?
What was the purchase price per share in ADX's tender offer?
