Tender Offer - INFINITY CORE ALTERNATIVE FUND
Form Type: SC TO-I
Filing Date: 2025-03-07
Corporate Action: Tender-offer
Type: New
Accession Number: 000110465925021592
Filing Summary: Infinity Core Alternative Fund is conducting a tender offer to purchase Shares, amounting to approximately 5.00% of the Fund's net assets (around $6,400,000 or 56,071 shares as of December 31, 2024) from shareholders at their net asset value. The current net asset value of the Fund’s Shares is $114.14. Shareholders may tender all or part of their Shares by 11:59 p.m. Eastern Time on May 30, 2025. The Fund will accept tenders on a 'first in-first out' basis, and repurchases will be completed within approximately 65 days after the Notice Due Date. Shareholders will receive a non-transferable promissory note for accepted Shares, reflecting at least 95% of the values of their tendered Shares. The Fund has the right to cancel or amend the Offer and expects to finance the purchases through cash on hand, proceeds from asset sales, or borrowing. Shares tendered will be retired, and Shareholders can withdraw their tenders before the Offer expires. No extraordinary transactions or changes in board structure are anticipated. There are no material conditions affecting the financing of the transaction.
Additional details:
Tender Offer Amount: 6400000
Net Asset Value Per Share: 114.14
Tender Offer Expiration Date: 2025-05-30
Initial Payment Time Frame: approximately 65 days after Notice Due Date
Valuation Date: 2025-06-30
First In First Out Basis: true
Form Type: SC TO-I/A
Filing Date: 2025-02-14
Corporate Action: Tender-offer
Type: Update
Accession Number: 000110465925013827
Filing Summary: Infinity Core Alternative Fund filed a final amendment to the Issuer Tender Offer Statement originally submitted on September 16, 2024. This amendment provides results of the offer to purchase shares of beneficial interest in the Fund, with an aggregate amount of up to $6,100,000. Holders of shares were required to submit their tenders by November 29, 2024, and as of that date, eleven shareholders had validly tendered shares. The net asset value of the shares tendered was calculated at $1,194,396 as of December 31, 2024. Shareholders who had their tenders accepted received promissory notes representing their purchase price. Payments were distributed on January 31, 2025, with the initial payment being at least 95% of the shares’ net asset value. A contingent payment will follow based on the next annual audit, expected to be completed by the end of May 2025. The amendment confirms that aside from the provided details, no modifications were made to the previously reported Tender Offer Materials.
Additional details:
Date Tender Offer First Published: 2024-09-16
Tender Deadline: 2024-11-29
Number Of Shareholders Tendered: 11
Net Asset Value Tendered: 1194396
Initial Payment Date: 2025-01-31
Audit Completion Date: 2025-05-31
Form Type: SC TO-I/A
Filing Date: 2025-02-12
Corporate Action: Tender-offer
Type: Update
Accession Number: 000110465925012105
Filing Summary: Infinity Core Alternative Fund filed a final amendment to the Tender Offer Statement on Schedule TO on February 12, 2025, in connection with its offer to purchase shares of beneficial interest in an aggregate amount up to $6,200,000. The initial offer was communicated to shareholders on May 29, 2024. This amendment serves to report the results of the offer. Shareholders were required to submit their tenders by 11:59 p.m., Eastern Time, on August 30, 2024. Eighteen shareholders validly tendered shares which were accepted for purchase. The net asset value of the shares tendered was $1,666,068 as of September 30, 2024. The Fund issued promissory notes for the purchase price of the tendered shares, which were managed by UMB Fund Services, Inc. Payments were executed on October 30, 2024, with at least 95% of the net asset value wired to shareholders who tendered their entire shares. A contingent payment, termed the Post-Audit Payment, will be made based on the Fund's audit results, anticipated by May 2025. Except for the updates in this final amendment, all information from the previous tender offer materials remains unchanged.
Additional details:
Name Of Subject Company: INFINITY CORE ALTERNATIVE FUND
Name Of Filing Person: INFINITY CORE ALTERNATIVE FUND
Title Of Class Of Securities: SHARES OF BENEFICIAL INTEREST
Date Tender Offer First Published: 2024-05-29
Number Of Shareholders Tendered: 18
Net Asset Value Tendered: 1666068
Payment Date For Initial Payment: 2024-10-30
Percentage Initial Payment: 95%
Expected Completion Date For Audit: 2025-05
Form Type: SC TO-I
Filing Date: 2024-12-13
Corporate Action: Tender-offer
Type: New
Accession Number: 000110465924128255
Filing Summary: Infinity Core Alternative Fund is initiating a tender offer to repurchase shares of beneficial interest amounting to up to approximately 5.00% of the net assets of the Fund, which is estimated to be around $6,500,000 or approximately 55,727 shares as of September 30, 2024. Shareholders can tender their shares at the net asset value, calculated as of the Valuation Date, which is initially set for March 31, 2025, unless extended by the Fund's Board of Trustees. The purchase will be made entirely in cash, with payments to be executed through non-interest bearing, non-transferable promissory notes. The tender offer period will expire on February 28, 2025, and shareholders will have the right to withdraw their tenders before this date. The purpose of the offer is to provide liquidity to shareholders, and there are no conditions for the financing of the transaction.
Additional details:
Tender Offer Amount: $6,500,000
Percentage Of Net Assets: 5%
Shares Outstanding: 55,727
Net Asset Value Per Share: $116.64
Initial Payment Due Date: 65 days after the Notice Due Date
Tender Expiration Date: 2025-02-28
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