Special Opportunities Fund, Inc. (NYSE: SPE) (the “Fund”) today
announced the results of the redemption of all of its shares of
convertible preferred stock. As of 5:00 p.m. on February 28, 2014,
holders of 744,720 shares of the Fund’s convertible preferred stock had
converted their shares into 2,767,005 shares of the Fund’s common stock
(with cash paid in lieu of any fractional shares of common stock). On
March 3, 2014, pursuant to the terms of the convertible preferred stock
as set forth in the offering prospectus, the Fund redeemed the remaining
4,366 shares of its convertible preferred stock for a cash payment of
$50 per share or a total of $218,300. As of March 4, 2014, the Fund had
10,165,454 shares of common stock outstanding.
Periodically updated information on the Fund can be obtained by visiting
the Fund’s website at www.specialopportunitiesfundinc.com.
Copyright Business Wire 2014