abrdn Global Premier Properties Fund Announces "At-the-Market" Equity Offering Program
abrdn Global Premier Properties Fund (NYSE:AWP) has announced a new at-the-market (ATM) equity offering program, filing a prospectus supplement with the SEC on January 23, 2025. The program allows the Fund to sell common shares with an aggregate offering price of up to $27.5 million.
The Fund cannot sell shares below the current net asset value (NAV), excluding commission or discount. Shares may be offered directly to purchasers, through agents, or via underwriters/dealers. The anticipated proceeds will be used for investment purposes.
The Fund, which trades on NYSE under symbol AWP, is a diversified, closed-end management investment company focusing on high current income and capital appreciation. It is advised by abrdn Investments and sub-advised by abrdn Inco.
abrdn Global Premier Properties Fund (NYSE:AWP) ha annunciato un nuovo programma di offerta di azioni a mercato (ATM), presentando un supplemento al prospetto alla SEC il 23 gennaio 2025. Il programma consente al Fondo di vendere azioni ordinarie con un prezzo totale di offerta fino a 27,5 milioni di dollari.
Il Fondo non pu貌 vendere azioni al di sotto del valore patrimoniale netto attuale (NAV), escluse le commissioni o gli sconti. Le azioni possono essere offerte direttamente agli acquirenti, attraverso agenti o tramite sottoscrittori/commercianti. I proventi previsti saranno utilizzati per scopi di investimento.
Il Fondo, che tratta su NYSE con il simbolo AWP, 猫 una societ脿 di investimento a gestione chiusa e diversificata, focalizzata su un alto reddito corrente e sull'apprezzamento del capitale. 脠 consigliato da abrdn Investments e co-consigliato da abrdn Inco.
abrdn Global Premier Properties Fund (NYSE:AWP) ha anunciado un nuevo programa de oferta de acciones a mercado (ATM), presentando un suplemento del prospecto a la SEC el 23 de enero de 2025. El programa permite al Fondo vender acciones comunes con un precio total de oferta de hasta 27,5 millones de d贸lares.
El Fondo no puede vender acciones por debajo del valor neto de los activos actual (NAV), excluyendo comisiones o descuentos. Las acciones pueden ofrecerse directamente a los compradores, a trav茅s de agentes o mediante suscriptores/comerciantes. Se anticipa que los ingresos se utilizar谩n con fines de inversi贸n.
El Fondo, que opera en NYSE bajo el s铆mbolo AWP, es una compa帽铆a de inversi贸n gestionada cerrada y diversificada que se enfoca en altos ingresos corrientes y apreciaci贸n de capital. Es asesorada por abrdn Investments y subasesorada por abrdn Inco.
abrdn Global Premier Properties Fund (NYSE:AWP)電� 2025雲� 1鞗� 23鞚� SEC鞐� 氤挫订 靹る獏靹滊ゼ 鞝滌稖頃橃棳 靸堧鞖� 鞁滌灔 雮�(ATM) 欤检嫕 瓿惦 頂勲攴鸽灗鞚� 氚滍憸頄堨姷雼堧嫟. 鞚� 頂勲攴鸽灗鞚� 韼�霌滉皜 齑� 2,750毵� 雼煬旯岇鞚� 臧�瓴╈溂搿� 氤错喌欤茧ゼ 韺愲Г頃� 靾� 鞛堧弰搿� 頃╇媹雼�.
韼�霌滊姅 順勳灛 靾滌瀽靷瓣皜旃�(NAV) 鞚错晿搿� 欤检嫕鞚� 韺愲Г頃� 靾� 鞐嗢溂氅�, 靾橃垬耄岆倶 頃犾澑鞚� 鞝滌櫢霅╇媹雼�. 欤检嫕鞚� 甑Г鞛愳棎瓴� 歆侅爲 鞝滉车霅橁卑雮�, 鞐愳澊鞝勴姼毳� 韱淀暣 霕愲姅 鞚胳垬鞚�/霐滊煬毳� 韱淀暣 鞝滉车霅� 靾� 鞛堨姷雼堧嫟. 鞓堨儊 靾橃澋鞚� 韴瀽 氇╈爜鞙茧 靷毄霅� 鞓堨爼鞛呺媹雼�.
AWP 旮绊樃搿� NYSE鞐愳劀 瓯半灅霅橂姅 鞚� 韼�霌滊姅 雴掛潃 順勳灛 靾橃澋瓿� 鞛愲掣 鞚挫澋鞚� 氇╉憸搿� 頃橂姅 雼れ枒頇旊悳 韽愳噭順� 甏�毽� 韴瀽 須岇偓鞛呺媹雼�. abrdn Investments臧� 鞛愲頃橁碃 abrdn Inco臧� 頃橃渼 鞛愲頃╇媹雼�.
abrdn Global Premier Properties Fund (NYSE:AWP) a annonc茅 un nouveau programme d'offre d'actions en march茅 (ATM), d茅posant un suppl茅ment de prospectus aupr猫s de la SEC le 23 janvier 2025. Ce programme permet au Fonds de vendre des actions ordinaires pour un prix total d'offre allant jusqu'脿 27,5 millions de dollars.
Le Fonds ne peut pas vendre d'actions en dessous de la valeur nette d'inventaire actuelle (NAV), hors commission ou remise. Les actions peuvent 锚tre offertes directement aux acheteurs, par l'interm茅diaire d'agents ou par l'entremise de souscripteurs/n茅gociants. Les produits pr茅vus seront utilis茅s 脿 des fins d'investissement.
Le Fonds, qui se n茅gocie sur la NYSE sous le symbole AWP, est une soci茅t茅 d'investissement 脿 gestion ferm茅e et diversifi茅e ax茅e sur un revenu courant 茅lev茅 et une appr茅ciation du capital. Il est conseill茅 par abrdn Investments et sous-auxiliaire par abrdn Inco.
abrdn Global Premier Properties Fund (NYSE:AWP) hat ein neues Programm zur Kapitalerh枚hung am Markt (ATM) angek眉ndigt und am 23. Januar 2025 einen Prospektzusatz bei der SEC eingereicht. Das Programm erlaubt dem Fonds, Stammaktien mit einem Gesamtkapitalisierungsangebot bis zu 27,5 Millionen Dollar zu verkaufen.
Der Fonds kann keine Anteile unter dem aktuellen Nettoinventarwert (NAV) verkaufen, ohne Provision oder Rabatt. Anteile k枚nnen direkt an K盲ufer, 眉ber Vermittler oder durch Underwriter/H盲ndler angeboten werden. Die erwarteten Erl枚se werden f眉r Investitionszwecke verwendet.
Der Fonds, der unter dem Symbol AWP an der NYSE gehandelt wird, ist eine diversifizierte, geschlossene Management-Investmentgesellschaft mit Fokus auf hohe aktuelle Eink眉nfte und Kapitalwachstum. Er wird von abrdn Investments beraten und von abrdn Inco unter r氓dgivningsubassisterung beraten.
- Potential to raise up to $27.5 million for investment purposes
- Protection for existing shareholders with no sales below NAV allowed
- Potential dilution of existing shareholders through new share issuance
- No guaranteed sales level or timeline for the ATM program
Insights
The announcement of AWP's $27.5 million at-the-market equity offering program warrants careful analysis from multiple angles. This financing mechanism represents a strategic approach to capital raising that balances flexibility with shareholder protection.
The ATM program's structure incorporates several key investor safeguards:
- Shares can only be sold above NAV, preventing dilution of existing shareholders
- The gradual nature of ATM offerings helps minimize market impact compared to large block sales
- The flexible timing allows management to capitalize on favorable market conditions
This move comes amid challenging market conditions for real estate securities, suggesting management sees opportunities to deploy capital. The timing is particularly notable given the fund's closed-end structure and historical trading patterns relative to NAV.
For existing shareholders, this development presents a nuanced scenario. While the offering could provide enhanced investment opportunities through additional capital deployment, investors should monitor execution carefully. The fund's ability to invest proceeds effectively in the current market environment will be important for maintaining distribution levels and supporting long-term performance.
From an industry perspective, this ATM program aligns with a broader trend among closed-end funds seeking capital raising efficiency. The structure's popularity has grown as funds look to minimize the market impact and costs associated with traditional secondary offerings while maintaining investment flexibility.
PHILADELPHIA, PA / / January 23, 2025 / ) (the "Fund"), a closed-end fund, has announced that it filed with the U.S. Securities and Exchange Commission ("SEC") on January 23, 2025, a prospectus supplement to its registration statement under which it may offer and sell from time to time, in one or more at-the-market offerings, the Fund's common shares having an aggregate offering price of up to
The Fund may not sell any common shares at a price below the current net asset value ("NAV") of such common shares, exclusive of any distributing commission or discount. There can be no guarantee that the Fund will engage in any sales or any particular level of sales of common shares, if shares are offered. It is anticipated that any proceeds raised would be used for investment purposes.
An investor should read the Fund's prospectus and prospectus supplement carefully before investing in the Fund. The Fund's shares may be offered directly to one or more purchasers, through agents designated from time to time by the Fund, or to or through underwriters or dealers. The prospectus supplement relating to the offering will identify any agents, underwriters or dealers involved in the sale of Fund shares, and will set forth any applicable purchase price, fee, commission or discount arrangement between us and our agents or underwriters, or among our underwriters, or the basis upon which such amount may be calculated. The Fund's shares may not be sold through agents, underwriters or dealers without delivery of a prospectus supplement describing the method and terms of the particular offering of Fund shares.
Investors may request these documents free of charge from the Fund's website at or obtain these documents on the SEC's website at .
###
The information in this press release is for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to sell or 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 proposed 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.
There can be no assurance that the Fund will achieve its investment objectives. The NAV of the Fund will fluctuate with the value of the underlying securities. It is important to note that closed-end funds trade on their market value, not NAV, and closed-end funds often trade at a discount to their NAV. Past performance is not indicative of future performance. An investment in the Fund is subject to certain risks and other considerations.
The Fund is a diversified, closed-end management investment company. The Fund seeks high current income and capital appreciation. The price of the Fund's common shares is determined by a number of factors, many of which are beyond the control of the Fund.
The Fund is advised by abrdn Investments Limited and sub-advised by abrdn Inco. The Fund's common shares trade on the NYSE under the symbol "AWP."
In the United States, abrdn is the marketing name for the following affiliated, registered investment advisers: abrdn Inc., abrdn Investments Limited, abrdn Asia Limited, and abrdn ETFs Advisors LLC.
Investors should consider the Fund's investment objectives, risks, charges and expenses carefully before investing in the Fund. There is no assurance that the Fund will achieve its investment objective.
Closed-end funds are traded on the secondary market through one of the stock exchanges. The Fund's investment return and principal value will fluctuate so that an investor's shares may be worth more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount) the NAV of the fund's portfolio.
###
For More Information Contact:
abrdn Inc.
Investor Relations
800-522-5465
[email protected]
SOURCE: abrdn Global Premier Properties Fund
View the original on ACCESS Newswire
FAQ
What is the maximum value of AWP's new ATM offering program?
When did AWP file its ATM offering program with the SEC?
Can AWP sell shares below its Net Asset Value in the ATM program?
How will AWP use the proceeds from the ATM offering?
What are the investment objectives of AWP Fund?
