{"id":691484,"date":"2022-10-03T16:20:06","date_gmt":"2022-10-03T20:20:06","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/virtus-convertible-income-fund-virtus-convertible-income-fund-ii-commence-tender-offers-for-outstanding-auction-rate-preferred-shares\/"},"modified":"2022-10-03T16:20:06","modified_gmt":"2022-10-03T20:20:06","slug":"virtus-convertible-income-fund-virtus-convertible-income-fund-ii-commence-tender-offers-for-outstanding-auction-rate-preferred-shares","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/virtus-convertible-income-fund-virtus-convertible-income-fund-ii-commence-tender-offers-for-outstanding-auction-rate-preferred-shares\/","title":{"rendered":"Virtus Convertible &amp; Income Fund, Virtus Convertible &amp; Income Fund II Commence Tender Offers for Outstanding Auction Rate Preferred Shares"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"legendSpanClass\"><br \/>\n          <span class=\"xn-location\">HARTFORD, Conn.<\/span><br \/>\n        <\/span>, <span class=\"legendSpanClass\"><span class=\"xn-chron\">Oct. 3, 2022<\/span><\/span> \/PRNewswire\/ &#8212; <a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3664856-1&amp;h=2938356801&amp;u=https%3A%2F%2Fwww.virtus.com%2Fproducts%2Fvirtus-convertible-income-fund%23shareclass.N%2Fperiod.quarterly&amp;a=Virtus+Convertible+%26+Income+Fund\" target=\"_blank\" rel=\"nofollow noopener\">Virtus Convertible &amp; Income Fund<\/a> (NCV) and <a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3664856-1&amp;h=2820406517&amp;u=https%3A%2F%2Fwww.virtus.com%2Fproducts%2Fvirtus-convertible-income-fund-ii%23shareclass.N%2Fperiod.quarterly&amp;a=Virtus+Convertible+%26+Income+Fund+II\" target=\"_blank\" rel=\"nofollow noopener\">Virtus Convertible &amp; Income Fund II<\/a> (NCZ) (each, a &#8220;Fund&#8221; and, together, the &#8220;Funds&#8221;), announced that each Fund today commenced a voluntary tender offer (each, a &#8220;Tender Offer&#8221; and, together, the &#8220;Tender Offers&#8221;) for up to 100% of its outstanding auction rate preferred shares (&#8220;ARPS&#8221;), at a price equal to 97.95% of the ARPS per share liquidation preference of <span class=\"xn-money\">$25,000<\/span> per share (or <span class=\"xn-money\">$24,487.50<\/span> per share), plus any unpaid ARPS dividends accrued through the expiration date of each Tender Offer.<\/p>\n<p>The Tender Offers commenced today at <span class=\"xn-chron\">12:01 a.m. Eastern Time<\/span> and will expire at <span class=\"xn-chron\">11:59 p.m. Eastern Time<\/span> on <span class=\"xn-chron\">November 1, 2022<\/span>, unless otherwise extended. It is expected that the payment of the tender offer proceeds will be made as soon as practicable after the expiration date of the Tender Offers, or such later date to which the Tender Offers may be extended.<\/p>\n<p>This announcement is not a recommendation, an offer to purchase, or a solicitation of an offer to sell the ARPS of the Funds. The Funds will file with the Securities and Exchange Commission (&#8220;SEC&#8221;) a tender offer statement on Schedule TO and related exhibits, including an offer to purchase, a related letter of transmittal and other related documents (the &#8220;Tender Offer Documents&#8221;). The Tender Offer Documents were mailed or distributed electronically to ARPS holders starting today. These and other filed documents also will be available to ARPS holders free of charge on the <a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3664856-1&amp;h=3066542808&amp;u=https%3A%2F%2Fwww.sec.gov%2F&amp;a=SEC%27s+website\" target=\"_blank\" rel=\"nofollow noopener\">SEC&#8217;s website<\/a> and on each Fund&#8217;s page in the <a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3664856-1&amp;h=3107322782&amp;u=https%3A%2F%2Fwww.virtus.com%2Four-products%2Findividual-investors%2Fclosed-end-funds%23%2Fasset_sub_class.null%2Fshare_class_id.16%2Ftype.daily%2Frelation.nav&amp;a=closed-end+fund\" target=\"_blank\" rel=\"nofollow noopener\">closed-end fund<\/a> section of <a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3664856-1&amp;h=1958334517&amp;u=https%3A%2F%2Fwww.virtus.com%2F%23product.all%2Fclass.all&amp;a=virtus.com\" target=\"_blank\" rel=\"nofollow noopener\">virtus.com<\/a>. ARPS holders may obtain further information regarding the Tender Offers from Georgeson LLC, the Funds&#8217; Depositary Agent and Information Agent for the Tender Offers, by calling (866) 785-7395 for NCV and (866) 857-2624 for NCZ. \u00a0<\/p>\n<p>\n        <b>About the Fund<\/b>\n      <\/p>\n<p>\n        <a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3664856-1&amp;h=521033855&amp;u=https%3A%2F%2Fc212.net%2Fc%2Flink%2F%3Ft%3D0%26l%3Den%26o%3D3560513-1%26h%3D1530935678%26u%3Dhttps%253A%252F%252Fwww.virtus.com%252Fproducts%252Fvirtus-allianzgi-convertible-income-fund%2523shareclass.N%252Fperiod.quarterly%26a%3DVirtus%2BAllianzGI%2BConvertible%2B%2526%2BIncome%2BFund&amp;a=Virtus+Convertible+%26+Income+Fund\" target=\"_blank\" rel=\"nofollow noopener\">Virtus Convertible &amp; Income Fund<\/a>\u00a0and\u00a0<a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3664856-1&amp;h=1570119077&amp;u=https%3A%2F%2Fc212.net%2Fc%2Flink%2F%3Ft%3D0%26l%3Den%26o%3D3560513-1%26h%3D1517582787%26u%3Dhttps%253A%252F%252Fwww.virtus.com%252Fproducts%252Fvirtus-allianzgi-convertible-income-fund-ii%2523shareclass.N%252Fperiod.quarterly%26a%3DVirtus%2BAllianzGI%2BConvertible%2B%2526%2BIncome%2BFund%2BII&amp;a=Virtus+Convertible+%26+Income+Fund+II\" target=\"_blank\" rel=\"nofollow noopener\">Virtus Convertible &amp; Income Fund II<\/a>\u00a0each have an investment objective to provide total return through a combination of capital appreciation and high current income. Virtus Investment Advisers, Inc. is the investment adviser and\u00a0<a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3664856-1&amp;h=133767499&amp;u=https%3A%2F%2Fwww.virtus.com%2Finvestment-partners%2Fvoya-investment-management&amp;a=Voya+Investment+Management\" target=\"_blank\" rel=\"nofollow noopener\">Voya Investment Management<\/a>\u00a0is the subadviser to the Funds. For more information on the Funds, contact Shareholder Services at (866) 270-7788, by email at <a href=\"mailto:closedendfunds@virtus.com\" target=\"_blank\" rel=\"nofollow noopener\">closedendfunds@virtus.com<\/a>, or through the\u00a0<a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3664856-1&amp;h=17072676&amp;u=https%3A%2F%2Fwww.virtus.com%2Four-products%2Findividual-investors%2Fclosed-end-funds%23%2Fasset_sub_class.null%2Fshare_class_id.16%2Ftype.daily%2Frelation.nav&amp;a=closed-end+funds\" target=\"_blank\" rel=\"nofollow noopener\">closed-end funds<\/a>\u00a0section of\u00a0<a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3664856-1&amp;h=338328250&amp;u=http%3A%2F%2Fwww.virtus.com%2F&amp;a=virtus.com\" target=\"_blank\" rel=\"nofollow noopener\">virtus.com<\/a>.<\/p>\n<p>\n        <b>Fund Risks<\/b>\n      <\/p>\n<p>An investment in a fund is subject to risk, including the risk of possible loss of principal. A fund&#8217;s shares may be worth less upon their sale than what an investor paid for them. Shares of closed-end funds may trade at a premium or discount to their net asset value. For more information about the Fund&#8217;s investment objective and risks, please see the Fund&#8217;s annual report. A copy of the Fund&#8217;s most recent annual report may be obtained free of charge by contacting Shareholder Services as set forth at the bottom of this press release.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder2313\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/890918\/Virtus_Funds_Logo.html\" target=\"_blank\" rel=\"nofollow noopener\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/890918\/Virtus_Funds_Logo.jpg\" title=\"(PRNewsfoto\/Virtus Funds)\" alt=\"(PRNewsfoto\/Virtus Funds)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder0\"><\/div>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=NE90115&amp;sd=2022-10-03\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow noopener\" href=\"https:\/\/www.prnewswire.com\/news-releases\/virtus-convertible--income-fund-virtus-convertible--income-fund-ii-commence-tender-offers-for-outstanding-auction-rate-preferred-shares-301639230.html\" target=\"_blank\">https:\/\/www.prnewswire.com\/news-releases\/virtus-convertible&#8211;income-fund-virtus-convertible&#8211;income-fund-ii-commence-tender-offers-for-outstanding-auction-rate-preferred-shares-301639230.html<\/a><\/p>\n<p>SOURCE  Virtus Funds<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=NE90115&amp;Transmission_Id=202210031615PR_NEWS_USPR_____NE90115&amp;DateId=20221003\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire HARTFORD, Conn. , Oct. 3, 2022 \/PRNewswire\/ &#8212; Virtus Convertible &amp; Income Fund (NCV) and Virtus Convertible &amp; Income Fund II (NCZ) (each, a &#8220;Fund&#8221; and, together, the &#8220;Funds&#8221;), announced that each Fund today commenced a voluntary tender offer (each, a &#8220;Tender Offer&#8221; and, together, the &#8220;Tender Offers&#8221;) for up to 100% of its outstanding auction rate preferred shares (&#8220;ARPS&#8221;), at a price equal to 97.95% of the ARPS per share liquidation preference of $25,000 per share (or $24,487.50 per share), plus any unpaid ARPS dividends accrued through the expiration date of each Tender Offer. The Tender Offers commenced today at 12:01 a.m. Eastern Time and will expire at 11:59 p.m. Eastern Time on November 1, 2022, unless &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/virtus-convertible-income-fund-virtus-convertible-income-fund-ii-commence-tender-offers-for-outstanding-auction-rate-preferred-shares\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Virtus Convertible &amp; Income Fund, Virtus Convertible &amp; Income Fund II Commence Tender Offers for Outstanding Auction Rate Preferred Shares&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-691484","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Virtus Convertible &amp; Income Fund, Virtus Convertible &amp; Income Fund II Commence Tender Offers for Outstanding Auction Rate Preferred Shares - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/virtus-convertible-income-fund-virtus-convertible-income-fund-ii-commence-tender-offers-for-outstanding-auction-rate-preferred-shares\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Virtus Convertible &amp; Income Fund, Virtus Convertible &amp; Income Fund II Commence Tender Offers for Outstanding Auction Rate Preferred Shares - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire HARTFORD, Conn. , Oct. 3, 2022 \/PRNewswire\/ &#8212; Virtus Convertible &amp; Income Fund (NCV) and Virtus Convertible &amp; Income Fund II (NCZ) (each, a &#8220;Fund&#8221; and, together, the &#8220;Funds&#8221;), announced that each Fund today commenced a voluntary tender offer (each, a &#8220;Tender Offer&#8221; and, together, the &#8220;Tender Offers&#8221;) for up to 100% of its outstanding auction rate preferred shares (&#8220;ARPS&#8221;), at a price equal to 97.95% of the ARPS per share liquidation preference of $25,000 per share (or $24,487.50 per share), plus any unpaid ARPS dividends accrued through the expiration date of each Tender Offer. The Tender Offers commenced today at 12:01 a.m. Eastern Time and will expire at 11:59 p.m. Eastern Time on November 1, 2022, unless &hellip; Continue reading &quot;Virtus Convertible &amp; Income Fund, Virtus Convertible &amp; Income Fund II Commence Tender Offers for Outstanding Auction Rate Preferred Shares&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/virtus-convertible-income-fund-virtus-convertible-income-fund-ii-commence-tender-offers-for-outstanding-auction-rate-preferred-shares\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2022-10-03T20:20:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mma.prnewswire.com\/media\/890918\/Virtus_Funds_Logo.jpg\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/virtus-convertible-income-fund-virtus-convertible-income-fund-ii-commence-tender-offers-for-outstanding-auction-rate-preferred-shares\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/virtus-convertible-income-fund-virtus-convertible-income-fund-ii-commence-tender-offers-for-outstanding-auction-rate-preferred-shares\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Virtus Convertible &amp; Income Fund, Virtus Convertible &amp; Income Fund II Commence Tender Offers for Outstanding Auction Rate Preferred Shares\",\"datePublished\":\"2022-10-03T20:20:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/virtus-convertible-income-fund-virtus-convertible-income-fund-ii-commence-tender-offers-for-outstanding-auction-rate-preferred-shares\\\/\"},\"wordCount\":509,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/virtus-convertible-income-fund-virtus-convertible-income-fund-ii-commence-tender-offers-for-outstanding-auction-rate-preferred-shares\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/mma.prnewswire.com\\\/media\\\/890918\\\/Virtus_Funds_Logo.jpg\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/virtus-convertible-income-fund-virtus-convertible-income-fund-ii-commence-tender-offers-for-outstanding-auction-rate-preferred-shares\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/virtus-convertible-income-fund-virtus-convertible-income-fund-ii-commence-tender-offers-for-outstanding-auction-rate-preferred-shares\\\/\",\"name\":\"Virtus Convertible &amp; Income Fund, Virtus Convertible &amp; Income Fund II Commence Tender Offers for Outstanding Auction Rate Preferred Shares - Market Newsdesk\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/virtus-convertible-income-fund-virtus-convertible-income-fund-ii-commence-tender-offers-for-outstanding-auction-rate-preferred-shares\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/virtus-convertible-income-fund-virtus-convertible-income-fund-ii-commence-tender-offers-for-outstanding-auction-rate-preferred-shares\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/mma.prnewswire.com\\\/media\\\/890918\\\/Virtus_Funds_Logo.jpg\",\"datePublished\":\"2022-10-03T20:20:06+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/virtus-convertible-income-fund-virtus-convertible-income-fund-ii-commence-tender-offers-for-outstanding-auction-rate-preferred-shares\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/virtus-convertible-income-fund-virtus-convertible-income-fund-ii-commence-tender-offers-for-outstanding-auction-rate-preferred-shares\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/virtus-convertible-income-fund-virtus-convertible-income-fund-ii-commence-tender-offers-for-outstanding-auction-rate-preferred-shares\\\/#primaryimage\",\"url\":\"https:\\\/\\\/mma.prnewswire.com\\\/media\\\/890918\\\/Virtus_Funds_Logo.jpg\",\"contentUrl\":\"https:\\\/\\\/mma.prnewswire.com\\\/media\\\/890918\\\/Virtus_Funds_Logo.jpg\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/virtus-convertible-income-fund-virtus-convertible-income-fund-ii-commence-tender-offers-for-outstanding-auction-rate-preferred-shares\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Virtus Convertible &amp; Income Fund, Virtus Convertible &amp; Income Fund II Commence Tender Offers for Outstanding Auction Rate Preferred Shares\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#website\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/\",\"name\":\"Market Newsdesk\",\"description\":\"Latest Business News in Real Time\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\",\"name\":\"Newsdesk\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g\",\"caption\":\"Newsdesk\"},\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/author\\\/newsdesk\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Virtus Convertible &amp; Income Fund, Virtus Convertible &amp; Income Fund II Commence Tender Offers for Outstanding Auction Rate Preferred Shares - Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/virtus-convertible-income-fund-virtus-convertible-income-fund-ii-commence-tender-offers-for-outstanding-auction-rate-preferred-shares\/","og_locale":"en_US","og_type":"article","og_title":"Virtus Convertible &amp; Income Fund, Virtus Convertible &amp; Income Fund II Commence Tender Offers for Outstanding Auction Rate Preferred Shares - Market Newsdesk","og_description":"PR Newswire HARTFORD, Conn. , Oct. 3, 2022 \/PRNewswire\/ &#8212; Virtus Convertible &amp; Income Fund (NCV) and Virtus Convertible &amp; Income Fund II (NCZ) (each, a &#8220;Fund&#8221; and, together, the &#8220;Funds&#8221;), announced that each Fund today commenced a voluntary tender offer (each, a &#8220;Tender Offer&#8221; and, together, the &#8220;Tender Offers&#8221;) for up to 100% of its outstanding auction rate preferred shares (&#8220;ARPS&#8221;), at a price equal to 97.95% of the ARPS per share liquidation preference of $25,000 per share (or $24,487.50 per share), plus any unpaid ARPS dividends accrued through the expiration date of each Tender Offer. The Tender Offers commenced today at 12:01 a.m. Eastern Time and will expire at 11:59 p.m. Eastern Time on November 1, 2022, unless &hellip; Continue reading \"Virtus Convertible &amp; Income Fund, Virtus Convertible &amp; Income Fund II Commence Tender Offers for Outstanding Auction Rate Preferred Shares\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/virtus-convertible-income-fund-virtus-convertible-income-fund-ii-commence-tender-offers-for-outstanding-auction-rate-preferred-shares\/","og_site_name":"Market Newsdesk","article_published_time":"2022-10-03T20:20:06+00:00","og_image":[{"url":"https:\/\/mma.prnewswire.com\/media\/890918\/Virtus_Funds_Logo.jpg","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/virtus-convertible-income-fund-virtus-convertible-income-fund-ii-commence-tender-offers-for-outstanding-auction-rate-preferred-shares\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/virtus-convertible-income-fund-virtus-convertible-income-fund-ii-commence-tender-offers-for-outstanding-auction-rate-preferred-shares\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Virtus Convertible &amp; Income Fund, Virtus Convertible &amp; Income Fund II Commence Tender Offers for Outstanding Auction Rate Preferred Shares","datePublished":"2022-10-03T20:20:06+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/virtus-convertible-income-fund-virtus-convertible-income-fund-ii-commence-tender-offers-for-outstanding-auction-rate-preferred-shares\/"},"wordCount":509,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/virtus-convertible-income-fund-virtus-convertible-income-fund-ii-commence-tender-offers-for-outstanding-auction-rate-preferred-shares\/#primaryimage"},"thumbnailUrl":"https:\/\/mma.prnewswire.com\/media\/890918\/Virtus_Funds_Logo.jpg","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/virtus-convertible-income-fund-virtus-convertible-income-fund-ii-commence-tender-offers-for-outstanding-auction-rate-preferred-shares\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/virtus-convertible-income-fund-virtus-convertible-income-fund-ii-commence-tender-offers-for-outstanding-auction-rate-preferred-shares\/","name":"Virtus Convertible &amp; Income Fund, Virtus Convertible &amp; Income Fund II Commence Tender Offers for Outstanding Auction Rate Preferred Shares - Market Newsdesk","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/virtus-convertible-income-fund-virtus-convertible-income-fund-ii-commence-tender-offers-for-outstanding-auction-rate-preferred-shares\/#primaryimage"},"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/virtus-convertible-income-fund-virtus-convertible-income-fund-ii-commence-tender-offers-for-outstanding-auction-rate-preferred-shares\/#primaryimage"},"thumbnailUrl":"https:\/\/mma.prnewswire.com\/media\/890918\/Virtus_Funds_Logo.jpg","datePublished":"2022-10-03T20:20:06+00:00","author":{"@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"breadcrumb":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/virtus-convertible-income-fund-virtus-convertible-income-fund-ii-commence-tender-offers-for-outstanding-auction-rate-preferred-shares\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.marketnewsdesk.com\/index.php\/virtus-convertible-income-fund-virtus-convertible-income-fund-ii-commence-tender-offers-for-outstanding-auction-rate-preferred-shares\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/virtus-convertible-income-fund-virtus-convertible-income-fund-ii-commence-tender-offers-for-outstanding-auction-rate-preferred-shares\/#primaryimage","url":"https:\/\/mma.prnewswire.com\/media\/890918\/Virtus_Funds_Logo.jpg","contentUrl":"https:\/\/mma.prnewswire.com\/media\/890918\/Virtus_Funds_Logo.jpg"},{"@type":"BreadcrumbList","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/virtus-convertible-income-fund-virtus-convertible-income-fund-ii-commence-tender-offers-for-outstanding-auction-rate-preferred-shares\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.marketnewsdesk.com\/"},{"@type":"ListItem","position":2,"name":"Virtus Convertible &amp; Income Fund, Virtus Convertible &amp; Income Fund II Commence Tender Offers for Outstanding Auction Rate Preferred Shares"}]},{"@type":"WebSite","@id":"https:\/\/www.marketnewsdesk.com\/#website","url":"https:\/\/www.marketnewsdesk.com\/","name":"Market Newsdesk","description":"Latest Business News in Real Time","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.marketnewsdesk.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979","name":"Newsdesk","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g","caption":"Newsdesk"},"url":"https:\/\/www.marketnewsdesk.com\/index.php\/author\/newsdesk\/"}]}},"_links":{"self":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/posts\/691484","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/comments?post=691484"}],"version-history":[{"count":0,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/posts\/691484\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/media?parent=691484"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/categories?post=691484"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/tags?post=691484"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}