Every material Form 8-K ABRDN ASIA-PACIFIC INCOME FUND, INC. has filed with the SEC since April 21, 2008, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
abrdn Asia-Pacific Income Fund entered into a purchase agreement on October 3, 2024 to issue 4,000,000 Series B Mandatorily Redeemable Preferred Shares at $25.00 liquidation preference each, raising $100 million in gross proceeds. The shares are due October 3, 2029, and the sale was made privately under Rule 506(c), so it adds a fixed-term preferred claim ahead of common shareholders.
Issued 4,000,000 Series B Mandatorily Redeemable Preferred Shares with $25.00 liquidation preference each
Gross proceeds from the sale were $100 million
Shares are due October 3, 2029
Articles Supplementary dated October 1, 2024 set the rights and preferences of the shares
Aberdeen Asia-Pacific Income Fund, Inc. has resolved to redeem all nine series of its Auction Market Preferred Stock, with an aggregate liquidation preference of $600 million, and replace it with an equivalent amount of borrowing from a syndicate of major financial institutions. Redemptions are scheduled to run from April 22, 2008 to May 13, 2008, and the company states the redemption remains subject to the approval and completion of financing.
Aggregate liquidation preference of the AMPS is $600 million across Series A through I
Redemption price is $25,000 per share plus accrued and unpaid dividends to the Redemption Date
Redemption dates range from April 22, 2008 (Series B and E) to May 13, 2008 (Series A)
Redemption is subject to the approval and completion of financing
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