Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Fri, May 14, 2:42 PM
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Slide #2. Aberdeen Income Credit Strategies Fund — Preferred Stock Offering
Aberdeen Income Credit Strategies Fund (NYSE:ACP)
Date of Pricing:
Price Per Share:
Preferred Stock Offering Details:
Aberdeen Income Credit Strategies Fund (NYSE: ACP) (the "Fund"), today announced that it has priced an underwritten public offering of 1,600,000 shares of 5.25% Series A Perpetual Preferred Shares (the "Preferred Shares") at a public offering price of $25 per share, which will result in net proceeds to the Fund of approximately $38.2 million after payment of underwriting discounts and commissions and estimated offering expenses payable by the Fund.
Aberdeen Income Credit Strategies Fund is registered as a diversified, closed-end management investment company. The Fund's primary investment objective is to seek a high level of current income, with a secondary objective of capital appreciation.
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