Printer Friendly

? TRI-CONTINENTAL RIGHTS OFFERING ENDS $192 MILLION FOR CORPORATION

 ? TRI-CONTINENTAL RIGHTS OFFERING ENDS
 $192 MILLION FOR CORPORATION
 NEW YORK, Nov. 2 1992 /PRNewswire/ -- Tri-Continental Corporation (NYSE: TY) announced this morning that its rights offering, which concluded at 5 p.m. on Friday, Oct. 30, 1992, was fully subscribed. The offering resulted in approximately $192 million in net proceeds for the corporation.
 The offering commenced on Oct. 2, at which time common stockholders were issued one transferable right for each share of common stock held; seven rights were required to purchase one share of common stock at the $21 subscription price.
 Tri-Continental Corporation was founded in 1929 and is today, with over $2 billion in assets, the nation's largest, diversified closed-end equity investment company. The corporation is managed by J. & W. Seligman & Co. Incorporated, a 128-year old investment manager and advisor with over $10 billion in assets under management.
 -0- 11/2/92
 /CONTACT: Heather MacLeod, corporate communications of J. & W. Seligman & Co., 212-488-0383/
 (TY) CO: Tri-Continental Corporation ST: New York IN: FIN SU:


TS-WB -- NY031 -- 1513 11/02/92 10:43 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 2, 1992
Words:173
Previous Article:NATIONAL CITY TRUST COMPANY, IN FLORIDA ELECTS THREE TO ITS BOARD OF DIRECTORS
Next Article:HOT IDEAS ISSUED FROM BG&E TO KEEP YOU WARM THIS WINTER
Topics:


Related Articles
TRI-CONTINENTAL CORPORATION ANNOUNCES RIGHTS OFFERING
DIRECTORS APPROVE TERMS OF TRI-CONTINENTAL CORPORATION RIGHTS OFFERING
DIRECTORS APPROVE SUSPENSION OF CASH PURCHASES AND LIQUIDATIONS IN CONJUNCTION WITH TRI-CONTINENTAL CORPORATION RIGHTS OFFERING
DIRECTORS APPROVE SUSPENSION OF CASH PURCHASES AND LIQUIDATIONS IN CONJUNCTION WITH TRI-CONTINENTAL CORPORATION RIGHTS OFFERING
DIRECTORS APPROVE FINAL TERMS OF TRI-CONTINENTAL CORPORATION RIGHTS OFFERING
TRI-CONTINENTAL CORPORATION DECLARES 1992 GAIN DISTRIBUTION
TRI-CONTINENTAL CORPORATION DECLARES 1993 GAIN DISTRIBUTION
Tri-Continental Corporation Recommends Stockholders Reject Unsolicited Tender Offer.
Tri-Continental Corporation (NYSE: TY) Declares Distribution of Mid-Year Capital Gains and Second Quarter Dividend.
Tri-Continental Corporation (NYSE: TY) Stockholders Re-Elect Directors, Again Vote to Remain Closed-End.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters