This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

H&Q Life Sciences Investors Authorizes A Rights Offering

Stocks in this article: HQL

On March 11, 2014, the Board of Trustees of H&Q Life Sciences Investors (the “Fund”) authorized the filing of a preliminary registration statement with the Securities and Exchange Commission for a proposed rights offering by the Fund to its shareholders to acquire additional shares (the “Offering”). Key aspects of the Offering, including the timing and the pricing, have yet to be determined. The Board reserves the right to delay or cancel the Offering.

The proceeds from the Offering (if commenced) would allow the Fund to take advantage of new investment opportunities without having to reduce existing holdings. Increasing the assets of the Fund may also result in certain economies of scale which may lower the Fund’s fixed expenses as a percentage of average net assets.

Under the proposed Offering, each shareholder would receive one non-transferable right for each common share held on the record date. It is anticipated that at least three rights will be required to acquire one additional common share of the Fund. The subscription price will be determined at a later date and is expected to be below the Fund’s market price at that time. Shareholders of record on the record date for the Offering are expected to be entitled to oversubscribe, subject to certain limitations, for any shares not purchased by exercise of the primary subscription rights. The Fund may issue, at its discretion, up to an additional 25% of the shares available pursuant to the Offering to honor over-subscriptions. The record date for the Offering and the length of the Offering period have not yet been determined and will also be announced at a later date. The Offering is subject to the Securities and Exchange Commission’s determination to declare the registration statement effective.

Any Offering will be made only by means of a prospectus and this notice does not constitute an offer to sell, or a solicitation of an offer to buy, any of the Fund’s securities. The information in this announcement is not complete and is subject to change. This document is not an offering, which can only be made by a final prospectus. Investors should consider the Fund’s investment objectives, risks, charges and expenses carefully before investing. The prospectus will contain this and additional information about the Fund and the Offering, and should be read carefully before investing.

H&Q Life Sciences Investors (NYSE: HQL) is a closed-end fund that invests in public and private companies in the life sciences industry. Tekla Capital Management LLC, based in Boston, serves as Investment Adviser to the Fund. Shares of the Fund can be purchased on the New York Stock Exchange through any securities broker.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs