NEW YORK, May 1 /PRNewswire-FirstCall/ -- ACM Managed Dollar Income Fund, Inc. (NYSE:ADF) (the "Fund") announced today basic terms of the tender offer to be conducted during the second quarter of this year. Under the terms approved by the Fund's Board of Directors, the Fund will, pursuant to due notification, commence a tender offer on May 4, 2009 for 924,778 shares of its common stock representing approximately 5% of the Fund's outstanding shares. The offer will be for cash at a price equal to the net asset value per share determined as of the close of the regular trading session of the New York Stock Exchange on the date after the date the offer expires. The offer will expire at 12:00 Midnight Eastern Time on June 1, 2009, unless extended. On April 30, 2009, the net asset value of a share of the Fund was $6.45 per share and the per share market price on the Exchange was $5.47, representing a 15.19% discount from net asset value. The offer is in fulfillment of an undertaking in connection with the initial public offering of shares stated in the Fund's prospectus dated October 22, 1993.
The terms and conditions of the offer will be set forth in the Fund's Offer to Purchase, to be dated May 4, 2009, and the related Letter of Transmittal.
The Fund is a non-diversified, closed-end U.S. registered management investment company whose investment adviser is AllianceBernstein L.P. The Fund has current net assets of approximately $119 million and invests substantially all of the assets in U.S. and non-U.S. fixed-income securities denominated in U.S. dollars with the primary investment objective of high current income and a secondary investment objective of capital appreciation.
This announcement is not an offer to purchase or solicitation of an offer to sell shares of the Fund. The offer is made only by the Offer to Purchase and the related Letter of Transmittal. Holders of Fund shares should read these documents when they are available because they contain important information. These and other filed documents are available to investors for free both at the website of the Securities and Exchange Commission and from the Fund. The offer is not being made to, nor will tenders be accepted from or on behalf of, holders of shares in any jurisdiction in which making or accepting the offer would violate that jurisdiction's laws. DATASOURCE: ACM Managed Dollar Income Fund, Inc.
CONTACT: Shareholders, +1-800-221-5672
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