US Solar Fund details terms of $19m tender offer

63% premium

US Solar Fund (USF) has outlined the full details of its tender offer, which is set to return up to $19m in value to shareholders.

According to the terms of the tender offer, shareholders will be able to tender up to 7.3% of the shares under their names on the register, with the option to go for additional shares if others tender less than their basic entitlement.  The tender price represents a premium of 63% to the closing market price per share of $0.47 on 2 May, according to USF's data. It allows for the purchase of up to 24.35 million shares at a price of $0.764 per share. This is equivalent to a $0.78 NAV per share, as of 31 December 2023.  US Solar Fund confirms $19m tender offer and eyes US private debt...