Tender Offer - ABS Long/Short Strategies Fund
Form Type: SC TO-I
Filing Date: 2025-04-30
Corporate Action: Tender-offer
Type: New
Accession Number: 000121390025037639
Filing Summary: ABS Long/Short Strategies Fund is conducting an issuer tender offer to purchase up to 25% of the net asset value of its shares as of June 30, 2025. The offer is open to all shareholders, with a minimum tender requirement of $10,000. Shareholders may tender all or part of their shares, provided they maintain at least $25,000 in shares post-repurchase. The fund will pay shareholders not less than 95% of the net asset value of accepted shares within 65 days after acceptance, with further payments adjusted based on the final valuation. The tender offer will expire on May 29, 2025, and shareholders have the right to withdraw their tenders within the specified timeframe. The offer aims to provide liquidity to shareholders, and the repurchased shares will be retired. This tender is not related to any extraordinary transactions or changes in the fund's investment strategy.
Additional details:
Shareholder Minimum Tender: 10000
Shareholder Remaining Value After Repurchase: 25000
Expiration Date: 2025-05-29
Initial Payment Timeline: 65 days
Final Payment Timeline: 2 business days after annual audit
Purchase Price Basis: net asset value as of Valuation Date
Form Type: SC TO-I
Filing Date: 2025-01-30
Corporate Action: Tender-offer
Type: New
Accession Number: 000139834425001427
Filing Summary: ABS Long/Short Strategies Fund is initiating a tender offer to purchase up to 25% of the net asset value of its shares from shareholders. The offer is open to all shareholders and is set to expire on February 28, 2025, unless extended. Shareholders can tender their shares starting with a minimum value of $10,000, but must maintain a minimum of $25,000 in shares post-tender unless a waiver is granted. Accepted tendered shares will be purchased at least at 95% of their unaudited net asset value as per the valuation date, which is set for March 31, 2025. Shareholders may withdraw their tender at any point before the expiration date. Payments will be made from the Fund's cash, securities sales, or borrowings. The intent of this tender offer is to provide liquidity to shareholders. The Fund’s Trustees and officers do not intend to participate in this tender offer.
Additional details:
Title Of Class: Founders’ Shares
Cusip Number: 00385P109
Tender Offer Expiration Date: 2025-02-28
Minimum Tender Amount: $10,000
Post Tender Minimum Value: $25,000
Initial Payment Percentage: 95%
Form Type: N-CSRS
Filing Date: 2025-01-10
Corporate Action: Tender-offer
Type: New
Accession Number: 000139834425000519
Filing Summary: The ABS Long/Short Strategies Fund filed its N-CSRS form as a certified shareholder report for the semi-annual period ending October 31, 2024. The document outlines the investment strategies, financial statements, and performance metrics for the Fund, which operates under a tender offer structure. Key sections include the Schedule of Investments, showing 95.1% of assets invested in Portfolio Funds, and the Statement of Operations that details investment income, expenses, and net realized gains on investments during the reporting period. The Fund reported a net investment loss of $1,395,352 but realized gains of approximately $15.6 million, contributing to a net increase in shareholders' capital of $14.2 million. The report includes details on management fees, capital transactions, and shareholder equity, highlighting the end-of-period net asset value per share at $104.48. The document provided transparency on the Fund's financial health, with disclosures on assets, liabilities, shareholder capital, and investment performance, reinforcing its adherence to regulatory requirements under the Investment Company Act of 1940.
Additional details:
Investment Objective: seek capital appreciation over a full market cycle while maintaining a lower level of volatility
Fiscal Year End: April 30
Reporting Period: October 31, 2024
Total Investments: $233,068,434
Shareholders Capital: $245,141,967
Net Asset Value Per Share: $104.48
Net Investment Loss: $1,395,352
Net Realized Gain On Investments: $3,079,773
Net Unrealized Appreciation On Investments: $12,531,062
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