Gelety John A 4
4 · HERZFELD CARIBBEAN BASIN FUND INC · Filed Dec 15, 2023
Insider Transaction Report
Form 4
Gelety John A
Director
Transactions
- Exercise of In-Money
Common stock
2023-12-13$2.31/sh+3,171$7,325→ 6,342 total - Exercise of In-Money
Non-transferable Subscription Rights (rights to buy)
2023-12-13−3,171→ 0 totalExercise: $2.31From: 2023-11-03Exp: 2023-12-13→ Common Stock (3,171 underlying)
Footnotes (2)
- [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"). The reporting person fully exercised all Rights received. Fractional shares of Common Stock were not issued. 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.