Guest Article: How To Navigate The Upcoming SWZ Rights Offering And Tender Offer
Author: George Spritzer, CFA
Summary
The Total Return Securities Fund (SWZ) is launching a non-transferable rights offering at 85% of NAV, followed by a 15%-30% tender offer near NAV.
SWZ’s shift to an activist, hedge-fund style strategy aims to address its persistent discount and attract new capital through these corporate actions.
The tender offer and activist mandate are expected t…
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