DENVER, June 29, 2021 /PRNewswire/ -- Clough Global
Equity Fund (the "Fund") is pleased to announce the successful
completion of its rights offering, and the final results thereof.
The Fund will issue a total of 4,410,276 new common shares as a
result of the rights offering which closed on June 22, 2021 (the "Expiration Date"). This
number of new shares represents one-third of the shares outstanding
immediately preceding the rights offering.
The subscription price of $13.56
per share was established on the Expiration Date based upon a
formula equal to 85% of the reported net asset value on the
Expiration Date.
"We are very pleased to be able to allocate this additional
capital on behalf of the Fund's shareholders by strategically
investing in areas of the global markets which our analysis
identifies as well priced and well positioned, as we seek to
provide a high level of total return over time," said Mike Hearle, CEO and Co-Chief Investment Officer
at Clough Capital Partners L.P.
Chairman, Portfolio Manager and Co-Chief Investment Officer
Chuck Clough added, "these offerings
allow our team to continue to make new investments in innovative
sectors and timely trends without the need to reduce existing core
holdings at inopportune times."
The Clough Global Equity Fund
The Fund is a closed-end
fund with an investment objective of providing a high level of
total return. Having a global, flexible mandate, the Fund will
invest at least 80% in equity and equity-related securities in both
U.S. and non-U.S. markets, and the remainder in fixed income
securities, including corporate and sovereign debt, in both U.S.
and non-U.S. markets. The Fund's portfolio managers are
Chuck Clough and Rob Zdunczyk. As of May
31st, 2021, the Fund had approximately
$367 million in total assets. More
information, including the Fund's dividend reinvestment plan, can
be found at www.cloughglobal.com or call 877-256-8445.
Clough Capital Partners L.P.
Clough Capital, a
Boston-based investment advisory
firm which manages approximately $2.2
billion in assets as of May 31,
2021, serves as investment adviser to the Fund.
The Clough Global Equity Fund is a closed-end fund and
closed-end funds do not continuously issue shares for sale as
open-end mutual funds do. Since the initial public offering, the
Fund now trades in the secondary market. Investors wishing to buy
or sell shares need to place orders through an intermediary or
broker. The share price of a closed-end fund is based on the
market's value.
ALPS Portfolio Solutions Distributor, Inc., FINRA Member
Firm.
Clough Global Equity Fund (NYSE MKT: GLQ)
1290
Broadway, Suite 1000
Denver, CO 80203
Contact: Fund Services Group at 877-256-8445
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SOURCE Clough Global Equity Fund
