Boulder Growth & Income Fund, Inc. (NYSE: BIF) announced today that it
has fixed the close of business on May 15, 2008 as the record date for
determination of stockholders entitled to participate in the Fund’s
1-for-3 rights offering. Each common stockholder will receive one
non-transferable right for each share held as of the record date. For
every three rights a common stockholder receives, they will be entitled
(but not required) to purchase one new share of the Fund at a
subscription price equal to the net asset value (“NAV”)
per share of common stock at the close of trading on the expiration date
of the offering. Fractional shares will not be issued. In addition to
the shares offered in the primary subscription, the Fund will offer a
100% over-allotment to oversubscribing stockholders. Stockholders who
fully subscribe in the primary offering will have the option to
oversubscribe for additional shares which may be available. The Fund
will proportionally allocate shares to oversubscribing stockholders
based on the number of rights originally issued to them.
The offering is subject to the filing of an amended registration
statement covering the rights and shares to be issued and to other
customary regulatory filings and approvals. Any rights offering
conducted by the Fund will be made only by means of a prospectus.
Boulder Growth & Income Fund, Inc. is a non-diversified, closed-end
management company organized as a Maryland corporation and is registered
with the SEC under the Investment Company Act of 1940, as amended. For
more information about the Fund, please visit the following website: www.boulderfunds.net.
FORWARD-LOOKING STATEMENTS
This press release may contain forward-looking statements, which are
made pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Statements made in this release that look
forward in time involve risks and uncertainties and are forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Such risks and uncertainties include, without
limitation, the adverse effect from a decline in the securities markets
or a decline in the Fund's performance, a general downturn in the
economy, competition from other companies, changes in government policy
or regulation, inability of the Fund to attract or retain key employees,
inability of the Fund to implement its operating strategy and
acquisition strategy, inability of the Fund to manage rapid expansion
and unforeseen costs and other effects related to legal proceedings or
investigations of governmental and self-regulatory organizations.
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