Tender Offer - Ironwood Multi-Strategy Fund LLC
Form Type: SC TO-I
Filing Date: 2025-02-26
Corporate Action: Tender-offer
Type: New
Accession Number: 000114036125006054
Filing Summary: Ironwood Multi-Strategy Fund LLC is initiating a tender offer to repurchase a portion of its Units from Feeder Fund members. This offer is limited by the Master Fund’s corresponding repurchase offer, which is also dated February 26, 2025. The Feeder Fund highlights that it will treat Members as direct members of the Master Fund for transactional purposes. The offer involves repurchasing up to approximately 20% of the Master Fund Units, depending on the volume of units tendered by Master Fund members. Members wishing to participate must submit a ‘Request to Tender Form’ by 11:59 p.m. on March 27, 2025. The payment structure includes a potential Early Repurchase Fee if Units have been held for less than one year. A detailed explanation of the payment process, including potential delays linked to liquidating portfolio holdings and other factors, is provided. Members must keep a minimum net asset value of $25,000 if not all Units are tendered. The offer is non-conditional on the minimum number of Units being tendered and can be suspended under certain circumstances by the Board. The document outlines the key conditions, requirements, and potential risks associated with this tender offer.
Additional details:
Units Outstanding: 2347730.802
Net Asset Value: 2775262402
Master Fund Units Outstanding: 4495744.175
Master Fund Net Asset Value: 5402250907
Repurchase Date: 2025-06-30
Offer Acceptance Deadline: 2025-03-27
Early Repurchase Fee: 5%
Minimum Net Asset Value: 25000
Form Type: SC TO-I/A
Filing Date: 2025-02-07
Corporate Action: Tender-offer
Type: Update
Accession Number: 000114036125003512
Filing Summary: This document is the final amendment to the Issuer Tender Offer Statement originally filed on August 28, 2024, by Ironwood Multi-Strategy Fund LLC. The Fund initiated an offer to purchase Units of Limited Liability Company Interest from its Members, proposing to buy up to approximately 20% of the Master Fund Units outstanding as of December 31, 2024. The final amendment reports that 82,538.053 Units were validly tendered and accepted. The net asset value of tendered Units was calculated at $96,002,196.81. Payments for repurchases were scheduled to be made on or around January 27, 2025, with potential early payments at the Board's discretion. Members tendering less than 95% of their Units may incur a 5% Early Repurchase Fee if Units are held for less than a year. The Fund has detailed payment procedures for both initial and subsequent payments to the Members whose tenders were accepted.
Additional details:
Units Tendered: 82538.053
Net Asset Value Tendered: 96002196.81
Early Repurchase Fee: 5%
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