CCDCalamos Dynamic Convertible & Income Fund
May 13, 4:32 PM ET
Calamos Dynamic Convertible & Income Fund (CCD) closes over-allotment, adds $52 million
The fund said underwriters exercised part of their over-allotment option, buying 2,179,445 additional common shares for net proceeds of about $52 million. Including that exercise, the IPO issued 24,379,445 shares for net proceeds of about $582 million. The fund's adviser also adjusted its share purchase program, which may buy up to $125,000 of fund shares per trading day from July 7, 2015 through February 25, 2016, but only when shares trade at a 2% or greater discount to net asset value.
- Underwriters bought 2,179,445 additional common shares through the over-allotment option, with net proceeds of about $52 million.
- Total IPO shares issued: 24,379,445, with net proceeds to the fund of about $582 million.
- Adviser's adjusted Rule 10b5-1 plan allows purchases of up to $125,000 per trading day starting July 7, 2015, through February 25, 2016.
- Purchases occur only if shares trade at a 2% or greater discount to the prior day's closing net asset value and the SPDR Barclays Convertible Securities ETF has not fallen 2% or more intraday.