HARTFORD, Conn.--(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.
