4//SEC Filing
Herzfeld Erik Mervin 4
Accession 0001398344-23-022822
CIK 0000880406other
Filed
Dec 14, 7:00 PM ET
Accepted
Dec 15, 5:00 PM ET
Size
9.7 KB
Accession
0001398344-23-022822
Insider Transaction Report
Form 4
Herzfeld Erik Mervin
PresidentOther
Transactions
- Exercise of In-Money
Common stock
2023-12-13$2.31/sh+119,428$275,879→ 339,508 total - Exercise of In-Money
Non-transferable Subscription Rights (rights to buy)
2023-12-13−220,081→ 0 totalExercise: $2.31From: 2023-11-03Exp: 2023-12-13→ Common Stock (220,081 underlying)
Footnotes (3)
- [F1]The Herzfeld Caribbean Basin Fund, Inc. (the "Fund") issued non-transferable subscription rights ("Rights") to its common stockholders of record as of the close of business on November 3, 2023 (the "Record Date") entitling the holders of these Rights to purchase additional shares of common stock of the Fund (the "Common Stock"). The holders of Common Stock of record on the Record Date ("Record Date Stockholders") were entitled to subscribe for additional shares of Common Stock at a discount to the market price of the Common Stock. The Fund distributed to Record Date Stockholders one Right for each share of Common Stock held on the Record Date. The Rights entitle their holders to purchase one new share of Common Stock for every one Right held (1 for 1).
- [F2]Record Date Stockholders who fully exercised their Rights were entitled to subscribe, subject to certain limitations and subject to allotment, for additional shares of Common Stock which were not subscribed for (the "Over-Subscription Privilege"). With respect to Common Stock owned by the reporting person in his role as portfolio manager of investment advisory accounts of the clients of Thomas J. Herzfeld Advisors, Inc., a registered investment adviser for which the reporting person has dispositive and/or voting power, the reporting person fully exercised all Rights received and subscribed for additional shares of Common Stock pursuant to the Over-Subscription Privilege, subject to the pro rata allocation of available shares of Common Stock. With respect to Common Stock owned individually by the reporting person, the reporting person partially exercised Rights received in the amount of 90,662 shares of Common Stock. Fractional shares of Common Stock were not issued.
- [F3]The subscription period commenced on the Record Date and expired on December 13, 2023. The final subscription price of $2.31 per share of Common Stock was determined based upon the terms of the offer. The Common Stock subscribed for will be issued after receipt of all stockholder payments.
Documents
Issuer
HERZFELD CARIBBEAN BASIN FUND INC
CIK 0000880406
Entity typeother
Related Parties
1- filerCIK 0001413260
Filing Metadata
- Form type
- 4
- Filed
- Dec 14, 7:00 PM ET
- Accepted
- Dec 15, 5:00 PM ET
- Size
- 9.7 KB