Boulder Total Return Fund, Inc. Announces Record Date and Effectiveness of Rights Offering.Business Editors BOULDER, Colo.--(BUSINESS WIRE)--June 11, 2003 The Boulder Total Return Fund, Inc. (NYSE NYSE See: New York Stock Exchange : BTF BTF Back to the Future (movie) BTF Berkshire Theatre Festival (Stockbridge, MA) BTF Blessthefall (band) BTF Bidirectional Texture Function ) announced today that its N-2 Registration Statement has been declared effective by the SEC. Shareholders of the Boulder Total Return Fund, Inc. will have the opportunity to purchase one new share of common stock for every three rights received. Every shareholder of record will be issued one right for each share owned. The transferable 1-for-3 rights offering will permit shareholders to acquire one new share of the Fund for each three rights held at a subscription price equal to 95% of the lesser of (a) the net asset value on the expiration date Expiration Date The day on which an options or futures contract is no longer valid and, therefore, ceases to exist. Notes: The expiration date for all listed stock options in the U.S. of the offering or (b) the volume-weighted sale price of a share of the Fund's common stock on the NYSE on the expiration date and the four immediately preceding trading days. Only record date shareholders will be permitted to participate in the oversubscription privilege Oversubscription privilege In a rights issue, arrangement by which shareholders are given the right to apply for any shares that are not taken up. oversubscription privilege with respect to the offering. The Fund's Board of Directors has determined June 20, 2003, to be the record date for the offering. The expiration date of the offering is anticipated to be on or about Friday, July 11, 2003, unless otherwise extended by the Fund to a date not later than July 20, 2003. The rights are transferable until the expiration date of the offering and have been admitted for trading on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. . It is anticipated that the rights will begin trading on the NYSE on or about June 17, 2003, under the symbol "BTF.RT". The number of rights issued to a shareholder on the record date will be rounded up to the nearest number of rights evenly divisible DIVISIBLE. The susceptibility of being divided. 2. A contract cannot, in general, be divided in such a manner that an action may be brought, or a right accrue, on a part of it. 2 Penna. R. 454. by three. Fractional shares Fractional share Stocks amounting to less than one full share, usually resulting from splits, acquisitions, exchanges, or dividend reinvestment programs. fractional share Less than one share of stock, that is, one-third or one-half a share. will not be issued. The rights offering prospectus will be mailed to record date shareholders on or about June 20, 2003. The Boulder Total Return Fund, Inc. is a closed-end diversified management investment company. The Fund currently has 9,416,743 shares of common stock outstanding. As of June 6, 2003, the Fund's net asset value was $16.36 and the closing market price was $13.98, a discount of 14.5%. |
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