Tender Offer - ASPIRIANT RISK-MANAGED CAPITAL APPRECIATION FUND
Form Type: SC TO-I
Filing Date: 2025-04-25
Corporate Action: Tender-offer
Type: New
Accession Number: 000121390025035290
Filing Summary: Aspiriant Risk-Managed Capital Appreciation Fund has initiated a tender offer to purchase up to approximately 5.00% of the Fund's net assets, equating to about $7,173,523 or roughly 679,703 shares as of December 31, 2024. The tender offer is set to expire on June 16, 2025, with a valuation date of June 30, 2025, where the net asset value (NAV) will be calculated for tendered shares. Shareholders may tender all or part of their shares, while the Fund reserves the right to adjust repurchase amounts to maintain minimum shares per account. The offer will be executed by issuing promissory notes to shareholders for repurchased shares, with initial payments due within 65 days post acceptance. The Fund may extend the offer or amend terms and retains the discretion to accept shares on a pro-rata basis if the tender exceeds the amount offered. The purpose of the tender is to provide liquidity to shareholders, and the Fund has not announced intentions for any extraordinary transactions or changes in management or structure.
Additional details:
Nav Per Share: 10.55
Number Of Shares Outstanding: 13594054
Offer Expiration Date: 2025-06-16
Valuation Date: 2025-06-30
Total Tender Offer Amount: 7173523
Tendered Shares Limit: 679703
Form Type: SC TO-I/A
Filing Date: 2025-03-13
Corporate Action: Tender-offer
Type: Update
Accession Number: 000139834425005516
Filing Summary: Aspiriant Risk-Managed Capital Appreciation Fund filed a final amendment to their Issuer Tender Offer Statement on Schedule TO originally filed on October 24, 2024. This amendment reports the results of an offer to purchase shares of beneficial interest in the Fund, up to an aggregate amount of $7,600,000. The offer required shareholders to submit their tenders by December 16, 2024. Four shareholders validly tendered their shares, which were accepted for purchase, totaling a net asset value of $2,190,000 as of December 31, 2024. Promissory notes corresponding to the purchase price were issued to these shareholders, and the Fund wired cash payments to the designated accounts on February 21, 2025. No shareholders tendered their entire shares, and the information in the prior filings remains unchanged except as stated in this amendment.
Additional details:
Name Of Subject Company: ASPIRIANT RISK-MANAGED CAPITAL APPRECIATION FUND
Issuing Person: ASPIRIANT RISK-MANAGED CAPITAL APPRECIATION FUND
Shares Of Beneficial Interest: SHARES OF BENEFICIAL INTEREST
Cusip Number: 04538B108
Date Of First Publish: 2024-10-24
Ending Date For Tender: 2024-12-16
Number Of Tenders: 4
Net Asset Value: 2190000
Payment Date: 2025-02-21
Form Type: SC TO-I
Filing Date: 2025-01-24
Corporate Action: Tender-offer
Type: New
Accession Number: 000121390025006252
Filing Summary: Aspiriant Risk-Managed Capital Appreciation Fund is initiating a tender offer to purchase shares of beneficial interest at their net asset value (NAV), which is estimated to encompass 5% of the Fund’s net assets, equating to approximately $7,487,014 for around 630,860 shares, as of September 30, 2024. Shareholders can tender their shares until March 17, 2025, at 11:59 p.m. Eastern Time, subject to extension at the Fund's discretion. The repurchase will be executed on a first-in-first-out basis, and shareholders will receive a promissory note representing the Fund's obligation to pay for the repurchased shares, which includes an initial payment within approximately 65 days post-notice due date and a contingent post-audit payment based on the final NAV determined during the Fund’s audit, expected to conclude within 60 days after the fiscal year-end of March 31, 2025. The Fund reserves rights to cancel or amend the offer, and any subscriptions will occur as per the Agreement and Declaration of Trust governing the Fund. No unusual transactions, such as mergers or liquidations, are proposed, and the Fund does not anticipate any changes to the Board or management at this time.
Additional details:
Name Of Subject Company: Aspiriant Risk-Managed Capital Appreciation Fund
Amount Of Offer: $7,487,014
Percentage Of Net Assets: 5.00%
Number Of Shares Tendered: 630,860
Outstanding Shares: 12,617,193
Nav Per Share: $11.87
Initial Notice Due Date: 2025-03-17
Valuation Date: 2025-03-31
Form Type: SC TO-I/A
Filing Date: 2024-12-17
Corporate Action: Tender-offer
Type: Update
Accession Number: 000139834424023301
Filing Summary: This document is a final amendment to the Tender Offer Statement originally filed by Aspiriant Risk-Managed Capital Appreciation Fund on July 26, 2024. The Fund offered to purchase shares of beneficial interest in an aggregate amount up to $7,600,000. The offer's deadline for submissions was set for September 16, 2024, at 11:59 PM Eastern Time. By that deadline, five Shareholders had validly tendered their Shares, which were accepted for purchase. The net asset value of the tendered Shares was calculated at $5,769,097 as of September 30, 2024. Promissory notes were issued to Shareholders whose tenders were accepted, with payments effectuated in two categories: full tenderers received at least 98% of their unaudited net asset value, while partial tenderers received 100%. Cash payments were wired to designated accounts on November 20, 2024. Further contingent payments, dependent on the audit results, are scheduled for disbursement by May 2025. All previously reported information in the Tender Offer Materials remains unchanged.
Additional details:
Tender Offer Amount: 7600000 USD
Tender Deadline: 2024-09-16
Net Asset Value Tendered: 5769097 USD
Payment Date Initial: 2024-11-20
Payment Rate Full Tender: 98%
Payment Rate Partial Tender: 100%
Post Audit Payment Schedule: within 5 business days after May 2025
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