Tender Offer - Eagle Point Institutional Income Fund
Form Type: SC TO-I/A
Filing Date: 2025-04-22
Corporate Action: Tender-offer
Type: Update
Accession Number: 000110465925037353
Filing Summary: This document is a final amendment to the Issuer Tender Offer Statement on Schedule TO filed by Eagle Point Institutional Income Fund on February 28, 2025. The offer involved the Fund purchasing shares of beneficial interest up to 5% of its net asset value as reported on the date of the Statement. Shareholders needed to tender their shares by 5:00 p.m. Eastern Time on March 28, 2025. A total of 93,864.39 shares were validly tendered and accepted at a price of $8.28 per share, leading to an aggregate purchase price of $777,197.16 paid for the tendered shares. This amendment confirms the completion of the tender offer process and reports the final results.
Additional details:
Submission Date: 2025-04-22
Tender Offer Expiration Date: 2025-03-28
Tendered Shares: 93,864.39
Tender Offer Price: $8.28
Aggregate Purchase Price: $777,197.16
Form Type: SC TO-I
Filing Date: 2025-02-28
Corporate Action: Tender-offer
Type: New
Accession Number: 000110465925019152
Filing Summary: Eagle Point Institutional Income Fund is initiating a tender offer to purchase its shares of beneficial interest from shareholders as detailed in the Schedule TO filing under the Securities Exchange Act of 1934. The tender offer commenced on February 28, 2025, aiming to acquire up to 5% of the Fund's net asset value as calculated on the prior calendar quarter’s end. Shareholders must submit their tenders by 5:00 PM Eastern Time on the Notice Date (March 28, 2025), with rights to rescind their tender requests until this date. The Fund will pay for accepted shares based on their net asset value as of the Valuation Date (March 31, 2025). The filing also includes instructions for submitting tenders and the conditions under which the offer may be extended or canceled, citing potential risks including reduced diversification for remaining shareholders. Furthermore, there are tax implications for shareholders related to the tender offer, including possible classifications as dividends or capital gains, and details for foreign shareholders regarding U.S. tax withholding. The Fund is structured as a Delaware statutory trust registered under the Investment Company Act of 1940.
Additional details:
Prior Nav Calculation Date: 2025-01-31
Prior Admission Date: 2025-02-01
Commencement Date: 2025-02-28
Notice Date: 2025-03-28
Tender Withdrawal Date: 2025-03-28
Valuation Date: 2025-03-31
Acceptance Date: 2025-04-28
Net Asset Value Per Share: 9.56
Total Outstanding Shares: 11136932
Aggregate Net Asset Value: 106416445
Form Type: SC TO-I/A
Filing Date: 2025-01-23
Corporate Action: Tender-offer
Type: Update
Accession Number: 000110465925005498
Filing Summary: This document is a final amendment to the Issuer Tender Offer Statement on Schedule TO, originally filed on November 29, 2024, by Eagle Point Institutional Income Fund. The Fund has offered to purchase up to 5% of its net asset value in Shares of beneficial interest from its shareholders. The deadline for shareholders to tender their shares was December 30, 2024. As of the expiration of the Offer, a total of 336,515.70 Shares were tendered at a price of $9.62 per Share. The Company accepted all tendered shares for payment, totaling an aggregate purchase price of $3,237,281.09 as of January 22, 2025. The filing serves to report these results and indicates that it is the final amendment to the created tender offer.
Additional details:
Shareholders Tender Deadline: 2024-12-30
Total Shares Tendered: 336515.70
Tender Offer Price: 9.62
Aggregate Purchase Price: 3237281.09
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