Tender Offer - First Trust Private Assets Fund
Form Type: SC TO-I
Filing Date: 2025-05-30
Corporate Action: Tender-offer
Type: New
Accession Number: 000110465925054707
Filing Summary: First Trust Private Assets Fund is initiating a tender offer to repurchase up to approximately 5.00% of its net assets, amounting to about $1,900,000 or roughly 152,979 shares as of March 31, 2025. The tender offer allows shareholders to sell their shares at their net asset value, calculated on June 30, 2025. Shareholders must submit their tenders by 11:59 p.m. Eastern Time on this date, with the possibility of extensions at the discretion of the Fund's Board of Trustees. The Fund intends to manage the repurchases through cash on hand, sales of portfolio holdings, or borrowings. Acceptances of tenders will be handled on a first-come, first-served basis unless the total tendered exceeds the 5.00% limit, in which case pro rata distribution will apply. Following the purchase, shares will be retired. The Offer is not conditioned on a minimum number of shares being tendered, and shareholders have withdrawal rights until the tender offer closes. The nuances of payment include an initial promissory note and potential post-audit payments contingent upon the Fund's annual audit results.
Additional details:
Shareholder Initial Payment: At least 95% of the unaudited value of the shares
Repurchase Date: June 30, 2025
Net Asset Value Per Share: 12.42
Expected Audit Completion: By the end of May 2026
Shares Available For Repurchase: 152,979
Shareholder Minimum Balance: $50,000
Initial Notice Due Date: June 30, 2025
Form Type: SC TO-I
Filing Date: 2025-03-03
Corporate Action: Tender-offer
Type: New
Accession Number: 000110465925019760
Filing Summary: First Trust Private Assets Fund is making a tender offer to purchase shares of beneficial interest from its shareholders, amounting to approximately 5.00% of the net assets or roughly $1,600,000. The offer is set to expire on March 31, 2025, with a net asset value calculated as of the same date. Shareholders have the right to tender all or some of their shares by the deadline, and the Fund will review net asset value during its annual audit. Payments will be made primarily in cash, with initial and post-audit payments expected to follow specific timelines. Shareholders can withdraw their tender prior to the notice due date, and the Fund may extend the offer at its discretion.
Additional details:
Name Of Subject Company: First Trust Private Assets Fund
Name Of Filing Person: First Trust Private Assets Fund
Title Of Class Of Securities: Shares of Beneficial Interest
Officer Name: Ann Mauer
Officer Address: 235 W. Galena Street, Milwaukee, WI 53212
Officer Phone Number: (414) 299-2270
Initial Notice Due Date: 2025-03-31
Valuation Date: 2025-03-31
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