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07.05.25 - 22:54
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The Herzfeld Caribbean Basin Fund, Inc. Announces Special Meeting of Stockholders to be Held on June 17, 2025 (GlobeNewswire EN)
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MIAMI BEACH, Fla., May 07, 2025 (GLOBE NEWSWIRE) -- The Herzfeld Caribbean Basin Fund, Inc. (NASDAQ: CUBA) (the “Fund”) today announced that the Fund has filed preliminary proxy materials (“Proxy Materials”) with the U.S. Securities and Exchange Commission in connection with a special meeting of stockholders to be held on June 17, 2025, for its stockholders to consider and vote on proposals necessary to approve the Fund's conversion from its current investment strategy and redirect the Fund to focus on a “CLO Equity Strategy”. With this change, the Fund's primary investment objective will change to a total return strategy with a secondary objective of generating high current income for stockholders. In accordance with the change in investment objective, the Fund will focus on investing in equity and junior debt tranches of collateralized loan obligations, or “CLOs”. CLOs are portfolios of collateralized loans consisting primarily of below investment grade U.S. senior secured loans with...
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