NEW YORK, Dec. 11, 2020 /PRNewswire/ -- Neuberger
Berman High Yield Strategies Fund Inc. (NYSE American: NHS) (the
"Fund") announced today the preliminary results of its tender
offer. The tender offer, which expired at 5:00 p.m., New York
City time, on December 10,
2020, was oversubscribed. Due to the fact that the
number of shares tendered exceeded the number of shares the Fund
offered to purchase, the Fund will purchase the maximum percentage
of outstanding shares it previously announced on a pro-rata basis
in accordance with the number of shares duly tendered by tendering
stockholders and the terms of the Offer to Purchase (with
appropriate adjustment to avoid purchase of fractional shares of
common stock).
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Based on preliminary information, approximately 6,666,834 shares
of common stock were tendered and not withdrawn. The final
results of the tender offer will be announced at a later
date. Stockholders who have questions regarding the tender
offer can call AST Fund Solutions, LLC, the 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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