Tender Offer - iDirect Private Markets Fund
Form Type: SC TO-I
Filing Date: 2025-05-16
Corporate Action: Tender-offer
Type: New
Accession Number: 000158064225003152
Filing Summary: iDirect Private Markets Fund is initiating a tender offer to purchase shares from its shareholders. The offer commences on May 16, 2025, and aims to buy up to 5% of the fund's net assets, calculated as of the Valuation Date. Shareholders must notify the Fund by June 24, 2025, if they wish to tender their shares. The expiration of the offer is set for June 26, 2025. Shareholders can withdraw their tender requests before the expiration date. The shares will be bought at the net asset value per share, minus any applicable Early Repurchase Fee. Payment will be made via cash, proceeds from sales of portfolio securities, or other sources as identified. The document also outlines the taxation implications for shareholders participating in the offer and the administrative details for submitting tender requests and withdrawal notifications.
Additional details:
Name Of Subject Company: iDirect Private Markets Fund
Name Of Filing Person: iDirect Private Markets Fund
Title Of Class Of Securities: shares of beneficial interest
Cusip Number: N/A
Offering Period: May 16, 2025 to June 26, 2025
Acceptance Date: July 16, 2025
Valuation Date: June 30, 2025
Early Repurchase Fee: 2% if shares held for less than one year
Minimum Initial Investment: Compulsory repurchase if value is below minimum investment
Form Type: SC TO-I
Filing Date: 2025-02-14
Corporate Action: Tender-offer
Type: New
Accession Number: 000158064225001007
Filing Summary: iDirect Private Markets Fund is issuing a tender offer to purchase shares from its shareholders. The tender offer commences on February 14, 2025, and the Fund intends to buy back shares amounting up to 5% of its net assets calculated as of the valuation date. Shareholders can notify the Fund of their intention to tender their shares by March 25, 2025, with a final expiration date for the offer set on March 27, 2025. Upon acceptance of the tendered shares, shareholders will receive a non-interest bearing promissory note that reflects the value of their tendered shares less any applicable early repurchase fee. The document outlines specific policies surrounding share tendering, withdrawal rights, and the conditions under which the tender offer may be extended or canceled. It also discusses potential tax implications for shareholders participating in the tender offer, including tax treatments on gain or loss recognized from the sale of shares and provisions for foreign shareholders. Additionally, it details the rights of shareholders, procedures for executing a tender, and the process for cancelling or amending the offer.
Additional details:
Date Of Offer: 2025-02-14
Notice Date: 2025-03-25
Expiration Date: 2025-03-27
Acceptance Date: 2025-04-14
Valuation Date: 2025-03-31
Max Percent Tendered: 5%
Early Repurchase Fee: 2%
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