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AI brief of an SEC Form 8-K · ABRDN ASIA-PACIFIC INCOME FUND, INC. (FAX)

abrdn Asia-Pacific Income Fund sells $100 million of Series B preferred shares

Neutral Impact 3 of 5 financing Written later

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.

Key points

  • 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

The filing

CompanyABRDN ASIA-PACIFIC INCOME FUND, INC. (FAX)
Form8-K, current report
Filed with the SECOct 3, 2024, 4:52 PM ET
Accession number0001104659-24-105892

Items reported: 1.01 Material Definitive Agreement3.02 Unregistered Equity Sale5.03 Bylaw / Charter Amendment

Read the filing on SEC.gov ↗

Written by AI on Nov 9, 2026, 8:51 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 03, 2024.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.