 |
|
For Immediate Release
The New America High Income Fund Announces Completion of Transferable Rights Offering
Boston, Massachusetts, September 18, 2007 - The New America High Income Fund, Inc. (NYSE:HYB) (the "Fund") announced today the results of its Rights Offering, which expired Monday, September 17, 2007 at 5:00 p.m., Eastern time. The Fund received primary and over-subscription requests for approximately 18.6 million shares of its common stock in the Rights Offering. All requests for over-subscription shares will be satisfied since the requests for primary subscriptions were less than the approximately 32.1 million shares offered.
Under the terms of the Rights Offering, the subscription price per share was the lower of (a) 94% of the average of the last reported sales prices of a share of the Fund's Common Stock on the New York Stock Exchange on the expiration date of the offer and the nine preceding business days and (b) 94% of the net asset value per share as of the close of business on the expiration date of the offer. The actual subscription price was $1.83 per share.
It is expected that confirmations to participants in the Rights Offering will be mailed out on or before September 26, 2007. Any payment received from participants in excess of the actual subscription price for shares subscribed for will be refunded as soon as practicable.
The New America High Income Fund, Inc. is a diversified, closed-end management investment company with a leveraged capital structure. The Fund's investment adviser is T. Rowe Price Associates, Inc. As of June 30, 2007, T. Rowe Price and its affiliates managed approximately $379 billion of assets, including approximately $74 billion of fixed income securities, of which approximately $10.2 billion represented "high-yield" investments. T. Rowe Price has provided investment advisory services to investment companies since 1937.
The Fund's common stock is listed on the New York Stock Exchange under the symbol "HYB."
View other press releases:
July 2, 2010
June 2, 2010
May 5, 2010
April 2, 2010
March 2, 2010
December 21, 2009
December 2, 2009
November 2, 2009
October 1, 2009
September 1, 2009
August 3, 2009
July 1, 2009
June 1, 2009
May 1, 2009
April 1, 2009
March 2, 2009
January 29, 2009
January 20, 2009
December 19, 2008
December 1, 2008
November 19, 2008
October 31, 2008
October 1, 2008
September 2, 2008
August 1, 2008
July 2, 2008
June 2, 2008
May 1, 2008
April 1, 2008
February 29, 2008
December 18, 2007
December 4, 2007
November 1, 2007
October 1, 2007
September 12, 2007
September 4, 2007
August 16, 2007
July 24, 2007
July 12, 2007
July 2, 2007
June 1, 2007
May 15, 2007
May 1, 2007
April 2, 2007
March 1, 2007
December 18, 2006
December 1, 2006
November 1, 2006
October 2, 2006
September 6, 2006
August 1, 2006
July 5, 2006
June 1, 2006
May 1, 2006
April 3, 2006
March 1, 2006
December 20, 2005
December 1, 2005
November 2, 2005
October 5, 2005
September 1, 2005
August 1, 2005
July 5, 2005
June 2, 2005
May 4, 2005
April 4, 2005
March 2, 2005
December 21, 2004
December 3, 2004
November 5, 2004
October 5, 2004
September 3, 2004
August 3, 2004
July 1, 2004
June 3, 2004
May 3, 2004
April 2, 2004
March 3, 2004
December 22, 2003
December 1, 2003
November 4, 2003
October 17, 2003
October 2, 2003
September 3, 2003
August 19, 2003
August 19, 2003
August 4, 2003
July 21, 2003
July 11, 2003
July 3, 2003
June 3, 2003
May 23, 2003
May 5, 2003
April 3, 2003
March 3, 2003
|
