Special Opportunities Find announces convertible redemption results

By Tali Rackner

Norfolk, Va., March 4 - Special Opportunities Fund, Inc. said holders of 744,720 shares of its convertible preferred stock converted their shares into 2,767,005 shares of the fund's common stock, according to a press release.

Holders had until 5 p.m. ET on Feb. 28 to convert their shares.

On Monday, the fund redeemed the remaining 4,366 convertible preferred shares for a cash payment of $50 per share, or a total of $218,300.

As of Tuesday, there were 10,165,454 common shares outstanding.

The issuer is a closed-end, diversified management investment company based in Milwaukee. Its investment objective is total return through capital appreciation and current income. The fund's investment adviser is Saddle Brook, N.J.-based Bulldog Investors LLC.

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