Highland Opportunities and Income Fund | 5.375% Series A Cumulative Preferred Shares (HFRO.PRA)
Prospectus excerpt: Highland Income Fund (the ěTrustî) is offering 5,400,000 shares of 5.375% Series A Cumulative Preferred Shares, par value $0.001 per share (the ěSeries A Preferred Sharesî). Investors in Series A Preferred Shares will be entitled to receive, when, as and if declared by, or under authority granted by, the Fundís Board of Trustees, out of funds legally available therefor, cumulative cash dividends and distributions at the rate of 5.375% per annum of the $25.00 per share liquidation preference on the Series A Preferred Shares. Dividends and distributions on Series A Preferred Shares will be payable quarterly on March 31, June 30, September 30 and December 31 in each year commencing on September 30, 2019. The Series A Preferred Shares will rank on parity with our any future preferred shares and senior to our common shares with respect to dividend and distribution rights and rights upon our liquidation. The Series A Preferred Shares are redeemable at our option on or after September 30, 2024 and are subject to mandatory redemption by us in certain circumstances. See ěSpecial Characteristics and Risks of the Series A Preferred Shares ó Redemption.î
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Highland Opportunities and 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 Open the HFRO Information Page » |
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