NEW YORK, Nov. 10, 2020 /PRNewswire/ -- Neuberger
Berman High Yield Strategies Fund Inc. (NYSE American: NHS) (the
"Fund") announced that it commenced a tender offer today. As
previously announced, the Fund will purchase up to 25% of its
outstanding shares of common stock for cash at a price equal to 96%
of its net asset value per share determined on December 10, 2020, or such later date to which
the tender offer is extended. The tender offer will expire on
December 10, 2020, at 5:00 p.m., New York
City time, unless the offer is extended.
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Additional terms and conditions of the tender offer are set
forth in the Fund's tender offer materials, which are being
distributed to the Fund's common stockholders. If more than
25% of the Fund's outstanding common stock is validly tendered, and
not withdrawn, the Fund will purchase common stock from tendering
stockholders on a pro rata basis. Accordingly, common
stockholders cannot be assured that the Fund will purchase all of
their tendered common stock.
Tender Offer Statement
This announcement is not a recommendation, an offer to purchase
or a solicitation of an offer to sell stock of the Fund and the
above statements are not intended to constitute an offer to
participate in any tender offer. The tender offer will be
made only by an offer to purchase, a related letter of transmittal,
and other documents filed with the Securities and Exchange
Commission ("SEC"). Stockholders of the Fund should read the
offer to purchase and tender offer statement and related exhibits,
as they will contain important information about the tender
offer. These and other filed documents will be available to
investors for free both on the website of the SEC at www.sec.gov
and from the Fund, by calling AST Fund Solutions, LLC, the Fund's
information agent for the tender offer, at (877) 478-5039 (toll
free).
About Neuberger Berman
Neuberger Berman, founded in 1939, is a private, independent,
employee-owned investment manager. The firm manages a range of
strategies—including equity, fixed income, quantitative and
multi-asset class, private equity, real estate and hedge funds—on
behalf of institutions, advisors and individual investors globally.
With offices in 24 countries, Neuberger Berman's diverse team has
over 2,300 professionals. For six consecutive years, the company
has been named first or second in Pensions & Investments Best
Places to Work in Money Management survey (among those with 1,000
employees or more). In 2020, the PRI named Neuberger Berman a
Leader, a designation awarded to fewer than 1% of investment firms
for excellence in Environmental, Social and Governance (ESG)
practices. The PRI also awarded Neuberger Berman an A+ in every
eligible category for our approach to ESG integration across asset
classes. The firm manages $374
billion in client assets as of September 30, 2020. For more information, please
visit our website at www.nb.com.
Statements made in this release that look forward in time
involve risks and uncertainties. Such risks and uncertainties
include, without limitation, the adverse effect from a decline in
the securities markets or a decline in the Fund's performance, a
general downturn in the economy, competition from other closed end
investment companies, changes in government policy or regulation,
inability of the Fund's investment adviser to attract or retain key
employees, inability of the Fund to implement its investment
strategy, inability of the Fund to manage rapid expansion and
unforeseen costs and other effects related to legal proceedings or
investigations of governmental and self-regulatory
organizations.
Investor Contact:
Neuberger Berman Investment Advisers
LLC
Investor Information
(877) 461-1899
Media Contact:
Alexander
Samuelson
Neuberger Berman
(212) 476-5392
Alexander.Samuelson@nb.com
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SOURCE Neuberger Berman