Tender Offer - Institutional Investment Strategy Fund

Form Type: N-23C3A

Filing Date: 2025-02-03

Corporate Action: Tender-offer

Type: New

Accession Number: 000197668525000004

Filing Summary: The Institutional Investment Strategy Fund has announced a quarterly share repurchase offer. The offer allows shareholders to sell a portion of their shares, with the offer period beginning on December 27, 2024. The fund intends to repurchase up to 5% of its outstanding shares based on the Net Asset Value (NAV) as of the close of the NYSE on January 27, 2024. Shareholders can submit repurchase requests through the Ivy Invest app, with a strict deadline set for 4:00 p.m. Eastern Time on January 27, 2024. Payment for shares repurchased will be made via ACH to shareholders' bank accounts no later than seven days after the Repurchase Pricing Date. The document outlines the conditions of the repurchase offer, including potential prorating if the number of shares tendered exceeds the number of shares offered for repurchase. It emphasizes the importance of understanding the liquidity constraints of the fund, as shares are not redeemable daily and have no secondary market.

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