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Karpus Management Reaches Agreement with The Zweig Fund and The Zweig Total Return Fund Regarding Instituting a Tender Offer Program

April 5, 2016

As previously announced, Olshan client Karpus Management reached an agreement with The Zweig Fund, Inc. and The Zweig Total Return Fund, Inc. resulting in the institution of a tender offer program for up to 25% of each funds outstanding shares through an initial offer of up to 15% of outstanding shares and two conditional offers of up to 5% each, in each case at a price equal to 98% of NAV.  Adam Finerman represented Karpus Investment in connection with their activist campaign at The Zweig Fund and The Zweig Total Return Fund.

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