Business News • MarketWire • Dividend and Income Fund Announces Results of Rights Offering |
Dividend and Income Fund Announces Results of Rights Offering |
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Dividend and Income Fund Announces Results of Rights Offering
NEW YORK, NY--(Marketwired - Sep 30, 2013) - Dividend and Income Fund (NYSE: DNI) (NAV: XDNIX) (the "Fund") is pleased to announce today the results of its non-transferable rights offering, which expired on September 27, 2013. The subscription price was determined to be $13.62, based on a formula equal to 95% of the lower of (a) the Fund's NAV per share or (b) the market price per share. For this purpose, the NAV per share was $17.67, determined as of the expiration date and the market price per share was $14.34, the average of the volume weighted average sales price of a share on the NYSE on the expiration date and the four preceding trading days.
View More : http://www.marketwired.com/mw/release.do?id=1836262&sourceType=3
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