abrdn Asia-Pacific Income Fund Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
October 3, 2024 (
(Exact name of registrant as specified in its charter)
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| Item 1.01. | Entry into a Material Definitive Agreement. |
Series B Mandatorily Redeemable Preferred Shares
On October 3, 2024, abrdn Asia-Pacific Income Fund, Inc. (NYSE: FAX) (the “Fund”) entered into a purchase agreement (the “Purchase Agreement”), by and among the Fund and each purchaser named therein (the “Purchasers”), in connection with the issuance and sale of 4,000,000 shares of the Fund’s Series B Mandatorily Redeemable Preferred Shares due October 3, 2029, liquidation preference of $25.00 (the “MRP Shares”), in a transaction exempt from registration pursuant to Rule 506(c) under the Securities Act of 1933, as amended (the “Preferred Placement”). The Fund received gross proceeds from the sale of the MRP Shares of $100 million.
| Item 3.02. | Unregistered Sale of Equity Securities |
The disclosure required by this Item and included in Item 1.01 of this Current Report is incorporated herein by reference.
| Item 5.03 | Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year. |
The Fund adopted the Articles Supplementary (the “Articles”), dated October 1, 2024, establishing and fixing the rights and preferences of the MRP Shares. The Articles authorize 4,000,000 MRP Shares, liquidation preference $25.00 per share. A copy of the Articles is filed herewith as Exhibit 3.1 and incorporated herein by reference.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
| 3.1 | Articles Supplementary to the Articles of Incorporation, dated as of October 1, 2024 | |
| 10.1 | Securities Purchase Agreement, dated as of October 3, 2024, between the Fund and the Purchasers | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| abrdn Asia-Pacific Income Fund, Inc. | ||
| Date: October 3, 2024 | By: | /s/ Lucia Sitar |
| Name: | Lucia Sitar | |
| Title: | Vice President and Chief Legal Officer | |