Tekla Healthcare Opportunities Fund Announces Renewal of Share Repurchase Program
March 16 2023 - 1:40PM
Business Wire
Tekla Healthcare Opportunities Fund (the “Fund”) announced today
that its Board of Trustees authorized a renewal of its share
repurchase program. The current share repurchase program allows the
Fund to purchase in the open market up to 12% of its outstanding
common shares for a one-year period ending July 14, 2023. The
renewal will allow the Fund to purchase in the open market up to
12% of its outstanding common shares for a one year-period ending
July 14, 2024. The Board authorized the share repurchase program as
a result of its periodic review of the options available to enhance
shareholder value and potentially reduce the discount between the
market price of the Fund’s shares and the net asset value per
share. The share repurchase program is intended to increase the
Fund’s net asset value per share and could also have the benefit of
providing additional liquidity in the trading of shares.
The amount and timing of repurchases will be at the discretion
of Tekla Capital Management LLC, the investment adviser to the
Fund. There is no assurance that the Fund will purchase shares at
any specific discount levels or in any specific amounts or on any
specific date. The Fund’s repurchase activity will be disclosed in
its shareholder report for the relevant fiscal period. There is no
assurance that the market price of the Fund’s shares, either
absolute or relative to net asset value, will increase as a result
of any share repurchases. The Board will monitor the effect of the
share repurchase program on the Fund’s market prices and net asset
value per share, expense ratio and investment strategy over
time.
Tekla Healthcare Opportunities Fund (NYSE: THQ) is a closed-end
fund that invests in companies in the healthcare industry. Tekla
Capital Management LLC, based in Boston, serves as investment
adviser to the Fund. Shares of the Fund can be purchased on the New
York Stock Exchange through any securities broker.
For additional information, please consult www.teklacap.com or
call (877) 855-3434.
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version on businesswire.com: https://www.businesswire.com/news/home/20230316005679/en/
Tekla Healthcare Opportunities Fund www.teklacap.com (877)
855-3434
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