Published on 7/5/2022 in the Prospect News Preferred Stock Daily.
New Issue: Ellsworth Growth issues $25 million 4.4% cumulative preferreds
By Wendy Van Sickle
Columbus, Ohio, July 5 – Ellsworth Growth and Income Fund Ltd. issued $25 million of 4.4% series B cumulative preferred shares with a liquidation preference of $10 apiece, according to a company-issued press release.
The preferreds are putable on June 26, 2023 and June 26, 2024 and are callable after June 26, 2024.
Ellsworth is a Morristown, N.J.-based diversified, closed-end management investment company.
Issuer: | Ellsworth Growth and Income Fund Ltd.
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Amount: | $25 million
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Issue: | Series B cumulative preferred shares
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Maturity: | Perpetual
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Dividend: | 4.4%
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Liquidation preference: | $10.00
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Call options: | After June 26, 2024
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Put options: | On June 26, 2023 and June 26, 2024
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Announcement date: | July 5
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