Neuberger Fund Raises $68 Million in Oversubscribed $6.50 Rights Offering
Neuberger High Yield Strategies Fund set its final subscription price at $6.50 per share, representing 92.5% of NAV, and issued 10,463,948 new shares in an oversubscribed rights offering. The Fund expects gross proceeds of approximately $68.0 million and will issue shares on April 21, 2026.
1. Rights Offering Outcome
Neuberger High Yield Strategies Fund held a transferable rights offering that expired April 15, resulting in issuance of 10,463,948 common shares after the offer was oversubscribed.
2. Subscription Price and NAV Discount
The final subscription price was set at $6.50 per share, equal to 92.5% of the Fund’s net asset value per share as of the closing of trading on the expiration date.
3. Gross Proceeds and Issuance Schedule
The Fund expects to raise gross proceeds of approximately $68.0 million, with subscribed shares scheduled for issuance on or about April 21, 2026 and any excess payments to be returned to subscribers.
4. Oversubscription Allocation Mechanism
Over-subscription requests exceeded available shares, triggering pro-rata allocation among record date stockholders based on the number of rights originally issued.