Preferred Stock Offerings

By Preferred Stock Channel Staff, updated Sat, April 1, 4:02 PM

This Slide: #146 of 609

Slide #146. The Highland Income Fund — Preferred Stock Offering

Company:	The Highland Income Fund (NYSE:HFRO)
Date announced:	7/29/2019
Shares Offered:	5,400,000
Date of Pricing:	7/29/2019
Price Per Share:	$25.00
Preferred Stock Offering Details:	The Highland Income Fund (NYSE: HFRO) ("HFRO" or the "Fund") announced today the pricing of an offering of 5.4 million 5.375% Series A Cumulative Preferred shares (NYSE: HFRO.PR.A) with an aggregate liquidation value of $135 million. Additionally, Highland Capital Management Fund Advisors, L.P., the Fund's adviser, granted the underwriters a 30-day option to purchase up to an additional $20.25 million to cover any overallotments. The offering is expected to close on Thursday, August 1, 2019, subject to customary closing conditions.

Highland Income is a non-diversified, closed-end management investment company. The Fund's investment objective is to provide current income consistent with preservation of capital by investing in floating rate loans and other securities deemed to be floating rate investments; securities or other instruments secured by real estate including real estate investment trusts, preferred equity, securities convertible into equity securities and mezzanine debt; and other instruments, including secured and unsecured fixed-rate loans and corporate bonds, distressed securities, mezzanine securities, structured products, convertible and preferred securities, equities, and futures and options.

Preferred: HFRO.PRA

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HFRO — Key Stats (updated Friday, March 31, 10:29 AM)

Name:
Highland Income Fund
Website:
www.highlandfunds.com
Sector:
Investment Companies & Venture Capital
Number of ETFs Holding HFRO:
2 (see which ones)
Total Market Value Held by ETFs:
$11,185,216