Denali Fund to purchase some auction preferreds at 95 in tender offer

By Susanna Moon

Chicago, June 22 - Denali Fund Inc. said it began a cash tender offer for up to 720 of its outstanding series A auction preferred shares.

Denali Fund will pay 95% of the $25,000 liquidation preference per preferred, or $23,750 per preferred, plus accrued dividends through the offer expiration at 5 p.m. ET on July 22.

The fund's board of directors decided to tender for the preferreds at a meeting held on Jan. 28, according to a company press release.

Morrow & Co., LLC (800 662-5200) is the information agent, and Colbent Corp. is the depositary.

Denali is a closed-end fund based in New York and managed by Boulder Investment Advisers, LLC and Stewart Investment Advisers.

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