Karpus Management Reaches Agreement with The New Ireland Fund Regarding Instituting a Modified “Dutch Auction” In-Kind Tender Offer

Firm News

As previously announced, Olshan client Karpus Management reached an agreement with The New Ireland Fund regarding the institution of a modified “Dutch auction” in-kind tender offer for up to 25% of the Fund’s outstanding shares at a price per share within a range of 95%-97% of the Fund’s per share NAV.  The in-kind tender offer is subject to the Fund’s receipt of an exemptive order from the SEC to permit affiliated persons of the Fund to participate in the in-kind tender offer.  If the exemptive order is not received the Fund has agreed to commence a cash tender offer for up to 30% of the fund’s outstanding shares at a price per share equal to 98% of the Fund’s per share NAV.  Olshan represented Karpus Investment in connection with their activist campaign at The Ireland Fund.

Media Contact

Marketing Contact
Mizi Mehaj
Marketing & Administrative Manager
mmehaj@olshanlaw.com
212.451.2319


Jump to Page

Necessary Cookies

Necessary cookies enable core functionality such as security, network management, and accessibility. You may disable these by changing your browser settings, but this may affect how the website functions.

Analytical Cookies

Analytical cookies help us improve our website by collecting and reporting information on its usage. We access and process information from these cookies at an aggregate level.