ABRDN INCOME CREDIT STRATEGIES FUND ANNOUNCES "AT-THE-MARKET" EQUITY OFFERING PROGRAM
PHILADELPHIA, Aug. 1, 2025 /PRNewswire/ -- abrdn Income Credit Strategies Fund (NYSE:ACP) (the "Fund"), a closed-end fund, has announced that it filed with the U.S. Securities and Exchange Commission ("SEC") on August 1, 2025, a prospectus supplement to its registration statement under which it may offer and sell from time to time, in one or more at-the-market offerings, the Fund's common shares having an aggregate offering price of up to $75 million (the "ATM Program").
The Fund may not sell any common shares at a price below the current net asset value ("NAV") of such common shares, exclusive of any distributing commission or discount. There can be no guarantee that the Fund will engage in any sales or any particular level of sales of common shares, if shares are offered. It is anticipated that any proceeds raised would be used for investment purposes.
An investor should read the Fund's prospectus and prospectus supplement carefully before investing in the Fund. The Fund's shares may be offered directly to one or more purchasers, through agents designated from time to time by the Fund, or to or through underwriters or dealers. The prospectus supplement relating to the offering will identify any agents, underwriters or dealers involved in the sale of Fund shares, and will set forth any applicable purchase price, fee, commission or discount arrangement between us and our agents or underwriters, or among our underwriters, or the basis upon which such amount may be calculated. The Fund's shares may not be sold through agents, underwriters or dealers without delivery of a prospectus supplement describing the method and terms of the particular offering of Fund shares.
Investors may request these documents free of charge from the Fund's website or obtain these documents on the SEC's website at www.sec.gov.
The information in this press release is for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities or the solicitation of any vote or approval in any jurisdiction pursuant to or in connection with the proposed transaction or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
There can be no assurance that the Fund will achieve its investment objectives. The NAV of the Fund will fluctuate with the value of the underlying securities. It is important to note that closed-end funds trade on their market value, not NAV, and closed-end funds often trade at a discount to their NAV. Past performance is not indicative of future performance. An investment in the Fund is subject to certain risks and other considerations.
The Fund is a diversified, closed-end management investment company. The Fund seeks a high level of current income with a secondary objective of capital appreciation. The price of the Fund's common shares is determined by a number of factors, many of which are beyond the control of the Fund.
The Fund is advised by abrdn Investments Limited and sub-advised by abrdn Inc. The Fund's common shares trade on the NYSE under the symbol "ACP."
Aberdeen Investments Global is the trade name of Aberdeen's investments business, herein referred to as "Aberdeen Investments" or "Aberdeen". In the United States, Aberdeen Investments refers to the following affiliated, registered investment advisers: abrdn Inc., abrdn Investments Limited, and abrdn Asia Limited.
Investors should consider the Fund's investment objectives, risks, charges and expenses carefully before investing in the Fund. There is no assurance that the Fund will achieve its investment objective.
Closed-end funds are traded on the secondary market through one of the stock exchanges. The Fund's investment return and principal value will fluctuate so that an investor's shares may be worth more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount) the NAV of the fund's portfolio.
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SOURCE abrdn Income Credit Strategies Fund