Adams Diversified Equity Fund Announces Final Tender Offer Results
06 August 2024 - 6:41AM
Adams Diversified Equity Fund, Inc. (NYSE: ADX) announced today the
final results of its offer to purchase up to 12,405,174 of its
common shares at $22.47, 98% of the $22.93 net asset value per
share (“NAV”) at the close of regular trading on the New York Stock
Exchange on August 2, 2024, the expiration date (“Offer”), which
include an updated proration factor. No other information about the
Offer results has changed.
Based on the final count by Equiniti Trust Company, LLC (“EQ”),
the depositary for the tender offer, a total of 41,882,825 common
shares of ADX were validly tendered and not withdrawn. The
total amount of shares tendered exceeded the Offer amount, and the
Fund will purchase tendered shares on a pro rata basis,
disregarding fractions. The proration factor for shares purchased
pursuant to the Offer was announced earlier today as 29.61876%. The
final proration factor for shares purchased pursuant to the Offer
is 29.6188420%.
In accordance with the terms and conditions of the Offer, ADX
has accepted for payment all 12,405,174 common shares subject to
the Offer.
Payment for the shares accepted for purchase under the Offer and
return of all other shares tendered and not purchased will occur
promptly.
EQ Fund Solutions, LLC is the information agent for the Offer.
Shareholders with questions may call EQ Fund Solutions, LLC at
(888) 886-4425.
About Adams Funds
Since 1929, Adams Funds has consistently helped generations of
investors reach their investment goals. Adams Funds is comprised of
two closed-end funds, Adams Diversified Equity Fund, Inc. (NYSE:
ADX) and Adams Natural Resources Fund, Inc. (NYSE: PEO). The Funds
are actively managed by an experienced team with a disciplined
approach and have paid dividends for more than 85 years across many
market cycles. The Funds are committed to paying a minimum annual
distribution rate of 8% of NAV or more, providing reliable income
to long-term investors. Shares can be purchased through our
transfer agent or through a broker. For more information about
Adams Funds, please visit: adamsfunds.com.
For further information please contact:
adamsfunds.com/about/contact or 800.638.2479
Statements in this press release that are not historical facts
are “forward-looking statements” as defined by the U.S. securities
laws. You should exercise caution in interpreting and relying on
forward-looking statements because they are subject to
uncertainties and other factors which are, in some cases, beyond
the Fund’s control and could cause actual results to differ
materially from those set forth in the forward-looking statements.
All forward-looking statements are as of the date of this release
only; the Fund undertakes no obligation to update or review any
forward-looking statements.
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