LMP Capital and Income Fund Inc. Announces Preliminary Results of Transferable Rights Offering
LMP Capital and Income Fund Inc. (NYSE:SCD) ("SCD" or the "Fund") announced today the completion of its transferable rights offering (the "Offer"). The Offer expired at 5:00 PM Eastern Time on July 11, 2025 (the "Expiration Date") and the Rights no longer trade on the New York Stock Exchange ("NYSE").
The Offer is expected to result in the issuance of 5,714,415 shares of common stock (including notices of guaranteed delivery), resulting in anticipated gross proceeds to the Fund of approximately $87 million. The Offer was oversubscribed.
The subscription price per share of common stock (the "Subscription Price") is $15.20, which is 90% of the Fund's net asset value per share of common stock at the close of trading on the NYSE on the Expiration Date. The shares of common stock subscribed for are expected to be issued on or about July 18, 2025, after completion of the allocation of any oversubscription shares and receipt of all shareholder payments. The Fund will return to subscribing investors the full amount of any excess payments.
Pursuant to the Offer, the Fund issued one transferable right (a "Right") for each share of common stock of the Fund held by stockholders of record as of the close of business on June 12, 2025 ("Record Date Stockholders"). Holders of Rights were entitled to purchase shares of common stock by submitting three Rights and the Subscription Price for each share of common stock purchased.
The information herein is not complete and is subject to change. This document does not constitute an offer to sell, or a solicitation of an offer to buy, any of the Fund's securities in any jurisdiction where the offer or sale is not permitted. This document is not an offering, which can only be made by a prospectus supplement and accompanying prospectus. Investors should consider the Fund's investment objectives, risks, charges and expenses carefully before investing. The base prospectus contains this and additional information about the Fund, and the prospectus supplement contains this and additional information about the Offer, and should be read carefully before investing. Shares of closed-end investment companies, such as the Fund, frequently trade at a discount from their net asset value. The market price of the Fund's shares is determined by a number of factors, several of which are beyond the control of the Fund. Therefore, the Fund cannot predict whether its shares will trade at, below, or above their net asset value.
Inquiries regarding the Offer should be directed to the Information Agent, Georgeson LLC, at 866-856-2826.
A copy of the Fund's Current Report to Stockholders may be requested by contacting 1-888-777-0102 or by visiting franklintempleton.com. All investments involve risks, including possible loss of principal. The Fund is actively managed, but there is no guarantee that investment decisions of ClearBridge Investments, LLC which oversees the Fund's allocation between equity and fixed income securities and is responsible for the Fund's equity investments, Western Asset Management Company, LLC and/or Western Asset Management Company Limited, each an indirect wholly-owned subsidiary of Franklin Resources Inc. will produce the desired results. For portfolio management discussions, including information regarding the Fund's investment strategies, please view the most recent Annual or Semi-Annual Report to Stockholders which can be found at franklintempleton.com or sec.gov.
About Franklin Templeton
Franklin Resources, Inc. is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 150 countries. Franklin Templeton's mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers specialization on a global scale, bringing extensive capabilities in fixed income, equity, alternatives and multi-asset solutions. With more than 1,500 investment professionals, and offices in major financial markets around the world, the California-based company has over 75 years of investment experience and $1.60 trillion in assets under management as of May 31, 2025. For more information, please visit franklintempleton.com and follow us on LinkedIn, Twitter and Facebook.
Category: Fund Announcement
Source: Franklin Resources, Inc.
Source: Legg Mason Closed End Funds
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Investor Contact: Fund Investor Services 1-888-777-0102
Media Contact: Jeaneen Terrio
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