DALLAS, July 01, 2021 (GLOBE NEWSWIRE) – NexPoint Strategic Opportunities Fund (NYSE: NHF) (âNHFâ or the âCompanyâ) today announced its regular monthly distribution on its common shares of $ 0.05 per share. The distribution will be payable on July 30, 2021 to shareholders of record at the close of business on July 23, 2021.
About the NexPoint Strategic Opportunities Fund (NHF)
The NexPoint Strategic Opportunities Fund (NYSE:NHF) is a closed-end fund managed by NexPoint Advisors, LP which is in the process of converting into a diversified REIT. On August 28, 2020, shareholders approved the conversion proposal and amended the Company’s fundamental investment policies and restrictions to allow the Company to continue its new business. The Company is reorganizing its portfolio so that it is no longer an âinvestment companyâ within the meaning of the Investment Companies Act 1940 (the â1940 Actâ). On March 31, 2021, the Company filed with the Securities and Exchange Commission (the âSECâ) a request for an order under the 1940 Act declaring that the Company is no longer an investment company (the âCancellation orderâ). During the SEC review process, the Company will continue to be structured as a registered closed-end investment company. The Company has repositioned its investment portfolio sufficiently to achieve REIT tax status and operates in its 2021 tax year so that it may qualify for tax as a REIT.
For more information, visit www.nexpointgroup.com/nexpoint-strategic-opportunities-fund/.
About NexPoint Advisors, LP
NexPoint Advisors, LP is an SEC registered adviser on the alternative investment platform NexPoint. He serves as an advisor to a range of funds and investment vehicles, including a closed-end fund, an interval fund, a business development company (âBDCâ) and various real estate vehicles. For more information, visit www.nexpoint.com.
Risks and Disclosures
Investors should carefully consider the investment objectives, risks, fees and expenses of the NexPoint Strategic Opportunities Fund before investing. This and other information can be found in the Company’s prospectus, which can be obtained by calling 1-866-351-4440 or by visiting www.nexpoint.com/nexpoint-strategic-opportunities-fund. Please read the prospectus carefully before investing.
The shares of closed-end investment companies frequently trade at a discount to the net asset value. The price of the Company’s shares is determined by a number of factors, many of which are beyond the control of the Company. Therefore, the Company cannot predict whether its shares will trade at, below or above NAV. Past performance is no guarantee of future results.
The distribution may include a return of capital. Please refer to the distribution source on the NexPoint Advisors website for section 19 notices which provide estimated amounts and sources of the Company’s distributions, which should not be relied on for tax reporting purposes.
Although NexPoint commits to conversion to REIT, this still depends on regulatory approval and the ability to reconfigure NHF’s portfolio to achieve REIT status and deregister as an investment company. The time required to reconfigure the Company’s portfolio could be affected, among others, by the COVID-19 pandemic and the resulting market volatility, determinations to preserve capital, the Company’s ability to identify and execute desirable investments; and applicable regulations, lenders and governance conditions. The conversion process can take up to 24 months; and there can be no assurance that the conversion of NHF to REIT status will improve its performance or reduce the discount to NAV. In addition, the SEC may decide not to grant the Company’s request for the De-listing Order, which would materially alter the Company’s plans for its business and investments.
In addition, these measures may adversely affect the Company’s financial condition, investment performance, results of operations, cash flows, the share price of its common shares and its ability to meet its obligations as of today. on account of debt service, if any, and to pay shareholder distributions. Whether the Company remains a registered investment company or converts to a REIT, its common stock, like an investment in any other public company, is subject to investment risk, including the possible loss of the investment. For a discussion of certain other risks associated with the proposed conversion to a REIT, see âImplementation of the Business Change Proposal and Related Risksâ in the Management Proxy Circular.
No guarantee can be given that the Company will achieve its investment objectives.
Please review the risks and additional information on www.nexpoint.com/nexpoint/disclosures/closed-end-fund-disclosures/
Shareholders: (844) 485-9167
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