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Cornerstone Strategic Value Fund, Inc. Announces Completion


Cornerstone Advisors
LLC
Cornerstone Strategic Value Fund
UNITED STATES
NYSE
the Fund
the U.S. Securities & Exchange Commission
SEC
Cornerstone Total Return Fund, Inc.
NYSE American


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American

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Inc.
Asheville
North Carolina
NEW YORK

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The New York Times
SOURCE: https://www.globenewswire.com/news-release/2021/05/17/2230837/0/en/Cornerstone-Strategic-Value-Fund-Inc-Announces-Completion-of-Rights-Offering.html
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Summary

The subscription price for each newly issued share was determined to be $10.64 which, under the terms of the prospectus, was equal to the greater of (i) 107% of net asset value per share as calculated at the close of trading on the date of expiration of the Offering and (ii) 80% of the market price per share at such time.Based on preliminary results provided by the Fund's subscription agent, the Fund received requests for approximately $420 million of its shares.The subscription price is lower than the original estimated subscription price of $10.88. Newly issued shares will not be entitled to the Fund’s distribution to stockholders for the month of May 2021.Cornerstone Strategic Value Fund, Inc. is a closed-end, diversified management investment company and is registered with the U.S. Securities & Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended.Cornerstone Strategic Value Fund, Inc. is traded on the NYSE American under the trading symbol “CLM”.

As said here by https://www.globenewswire.com/news-release/2021/05/17/2230837/0/en/Cornerstone-Strategic-Value-Fund-Inc-Announces-Completion-of-Rights-Offering.html