Reorganization of Virtus Stone Harbor Closed-End Funds Completed
December 18 2023 - 7:30AM
Business Wire
The reorganization of Virtus Stone Harbor Emerging Markets Total
Income Fund (NYSE: EDI) with and into Virtus Stone Harbor Emerging
Markets Income Fund (NYSE: EDF) has been completed. EDI ceased
trading and dissolved as of the close of business on Friday,
December 15, 2023. The surviving fund continues to have the EDF
ticker symbol and CUSIP 86164T107.
Prior to the open of trading on the NYSE today, each share of
EDI common stock converted into an equivalent dollar amount (to the
nearest $0.0001) of shares of common stock of EDF. The conversion
price was based on each fund’s net asset value (NAV) per share
calculated at the close of business on Friday, December 15,
2023:
EDF
$4.4018
EDI
$5.0785
Based upon those prices, former EDI shareholders were credited
1.153733 shares of common stock of EDF for every share of EDI
common stock they held, though cash will be paid in lieu of partial
shares.
About the Fund
Virtus Stone Harbor Emerging Markets Income Fund is a
non-diversified, closed-end management investment company that is
managed by Stone Harbor Investment Partners. The Fund's primary
investment objective is to maximize total return, which consists of
income and capital appreciation on its investments in emerging
markets securities. There is no assurance that the Fund will
achieve its investment objective.
For more information on the Fund, contact shareholder services
at (866) 270-7788, by email at closedendfunds@virtus.com, or
through the Closed-End Funds section of virtus.com.
Fund Risks
An investment in a fund is subject to risk, including the risk
of possible loss of principal. A fund’s shares may be worth less
upon their sale than what an investor paid for them. Shares of
closed-end funds may trade at a premium or discount to their net
asset value. For more information about the Fund’s investment
objective and risks, please see the Fund’s annual report. A copy of
the Fund’s most recent annual report may be obtained free of charge
by contacting “Shareholder Services” as set forth at the end of
this press release.
About Stone Harbor
Stone Harbor Investment Partners is a global institutional
fixed-income investment manager specializing in credit and asset
allocation strategies. The firm manages institutional clients’
assets in a range of investment strategies including emerging
markets debt, global high yield, bank loans, as well as
multi-sector credit products including unconstrained and total
return approaches. The firm’s investment strategies are based on
fundamental insights, derived from a combination of proprietary
research and the in-depth knowledge and specialized experience of
the firm’s team. Founded in 2006, it is based in New York City with
additional offices in London and Singapore. Stone Harbor Investment
Partners is a division of Virtus Fixed Income Advisers, LLC, a
registered investment adviser affiliated with Virtus Investment
Partners. For more information, visit shipemd.com.
About Virtus Investment Partners, Inc.
Virtus Investment Partners (NASDAQ: VRTS) is a distinctive
partnership of boutique investment managers singularly committed to
the long-term success of individual and institutional investors.
The company provides investment management products and services
through its affiliated managers and select subadvisers, each with a
distinct investment style, autonomous investment process, and
individual brand. For more information, visit virtus.com.
Additional Information
The information in this press release is for informational
purposes only and shall not constitute an offer to sell, the
solicitation of an offer to sell, the solicitation of an offer to
buy any securities, or the solicitation of any vote or approval in
any jurisdiction pursuant to or in connection with the transaction
or otherwise, nor shall there be any sale, issuance or transfer of
securities in any jurisdiction in contravention of applicable law.
No offer of securities shall be made except by means of a
prospectus meeting the requirements of Section 10 of the Securities
Act of 1933, as amended.
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version on businesswire.com: https://www.businesswire.com/news/home/20231218964891/en/
For Further Information:
Shareholder Services (866) 270-7788 closedendfunds@virtus.com
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