Financing · GlobeNewswire

Total Return Securities Fund Announces Rights Offering and Planned Tender Offer

SWZTotal Return Securities Fund

The Board of Total Return Securities Fund intends to authorize a rights offering, issuing one non-transferable right per share held on an upcoming date. These rights allow holders to purchase additional common stock at a subscription price equal to 85% of the fund's net asset value (NAV). Following the offering, the Board plans a tender offer to repurchase shares: either 30% of outstanding shares if at least 8 million new shares are issued, or the greater of 15% of outstanding shares and enough shares to leave approximately $90 million in NAV if fewer than 8 million are issued. The tender price will be at least 98% of NAV. Total Return Securities Fund is an investment company operating as a closed-end fund.