4//SEC Filing
Takian Randy 4
Accession 0001503290-19-000009
CIK 0001503290other
Filed
Nov 20, 7:00 PM ET
Accepted
Nov 21, 5:11 PM ET
Size
10.0 KB
Accession
0001503290-19-000009
Insider Transaction Report
Form 4
Takian Randy
Director
Transactions
- Exercise of In-Money
Common Stock
2019-11-19+503→ 1,836 total - Exercise of In-Money
Oversubscription Privilege (contingent right to buy)
2019-11-19−503→ 0 totalFrom: 2019-10-16Exp: 2019-11-13→ Common Stock (503 underlying)
Footnotes (4)
- [F1]On October 2, 2019, Aberdeen Income Credit Strategies Fund (the "Fund") announced the commencement of a pro rata offering (the "Rights Offering") of transferable rights (the "Rights") to holders of the Fund's common shares, as of the record date of October 16, 2019 ("Record Date Shareholder"), entitling the holders of such rights to subscribe for up to an aggregate of 4,358,024 of the Fund's common shares. Record Date Shareholders received one Right for each outstanding whole common share held on the record date. The Rights entitled their holders to purchase one new common share for every three Rights held. The subscription price per common share was $10.17 and was fixed as of the close of the subscription period on November 13, 2019 (the "basic subscription privilege"). The Rights Offering also included an oversubscription privilege, (continued in footnote 2)
- [F2]which entitled holders who fully exercised their basic subscription privilege the right to purchase, at a price of $10.17 per common share, additional common shares of the Fund, subject to availability and pro rata allocation of shares among Record Date Shareholders exercising such oversubscription privilege. The subscription rights expired on November 13, 2019 at 5:00 p.m. Eastern time.
- [F3]Following the conclusion of the Rights Offering, the common shares that were not purchased by other Record Date Shareholders were allocated pro rata among Rights holders exercising their oversubscription privileges based on the number of common shares of the Fund each of those Rights holders owned on the record date and subject to the amount of shares such holder subscribed for. The reporting person exercised his basic subscription rights and oversubscription privileges in full to purchase common shares of the Fund issued in the Rights Offering. The price per common share was fixed as of the close of the subscription period on November 13, 2019. The reporting person purchased 333 common shares of the Fund from the exercise of his basic subscription rights (previously reported in a Form 4 filed on November 15, 2019), (continued in footnote 4)
- [F4]plus an additional 503 common shares of the Fund pursuant to the oversubscription privileges associated with the reporting person's subscription rights on the basis of the Fund's allocation of common shares, as of the closing of the subscription period. On November 19, 2019, the third-party subscription agent for the Rights Offering determined the allocations to be made to the Record Date Shareholders who exercised their oversubscription privileges.
Documents
Issuer
Aberdeen Income Credit Strategies Fund
CIK 0001503290
Entity typeother
Related Parties
1- filerCIK 0001446215
Filing Metadata
- Form type
- 4
- Filed
- Nov 20, 7:00 PM ET
- Accepted
- Nov 21, 5:11 PM ET
- Size
- 10.0 KB