Tender Offer - Keystone Private Income Fund
Form Type: SC TO-I/A
Filing Date: 2025-05-23
Corporate Action: Tender-offer
Type: Update
Accession Number: 000121390025047113
Filing Summary: This document serves as the final amendment to the Issuer Tender Offer Statement on Schedule TO filed by Keystone Private Income Fund. The original filing occurred on October 31, 2024, in relation to the Fund's offer to purchase up to $69,090,181 worth of shares of beneficial interest. The Offer allowed shareholders to tender their shares by November 29, 2024, with 40 shareholders participating successfully. The accepted tenders included Class I, Class Y, and Class Z Shares, with a collective net asset value totaling $7,657,137. Payments for the accepted tenders were processed on February 5, 2025, based on the unaudited net asset values indicated. This amendment confirms that the previously reported information remains unchanged and adds details about the final results of the Offer.
Additional details:
Tender Offer Aggregate Amount: $69,090,181
Number Of Shareholders Tendered: 40
Net Asset Value Class I: $974,381
Net Asset Value Class Y: $655,947
Net Asset Value Class Z: $6,867,809
Payment Date: 2025-02-05
Form Type: SC TO-I
Filing Date: 2025-04-30
Corporate Action: Tender-offer
Type: New
Accession Number: 000121390025037237
Filing Summary: Keystone Private Income Fund is initiating a tender offer to purchase up to 5% of its net assets, equivalent to approximately $77,610,056 or 774,987 Shares outstanding as of February 28, 2025. The net asset value (NAV) per Share is calculated as total assets minus total liabilities, including applicable fees. The tender offer allows shareholders to sell all or part of their Shares by May 30, 2025, subject to maintaining minimum account balances based on the class of Shares. An Early Repurchase Fee of 2% applies for Shares tendered before being held for a year. The Fund reserves rights to adjust the NAV based on audit reviews and may establish escrow accounts for ensuring funds availability. The offer provides liquidity to shareholders and does not require a minimum number of tendered Shares for acceptance. It holds potential risks of increased expense ratios for remaining shareholders due to the repurchase process.
Additional details:
Tender Offer Amount: $77,610,056
Tender Offer Percentage: 5%
Initial Notice Due Date: 2025-05-30
Valuation Date: 2025-06-30
Early Repurchase Fee: 2%
Form Type: SC TO-I
Filing Date: 2025-01-31
Corporate Action: Tender-offer
Type: New
Accession Number: 000121390025008691
Filing Summary: Keystone Private Income Fund is initiating a tender offer to purchase up to approximately 5% of its net assets, equating to approximately $72,528,143 or about 724,132 Shares, from its Shareholders at net asset value (NAV) as of February 28, 2025. The Fund is offering to repurchase several classes of Shares including Class A, Class D, Class Y, Class I, and Class Z Shares, each having defined NAVs as of November 29, 2024. Shareholders will have the opportunity to tender all or a portion of their Shares and must do so before the cut-off time of 11:59 p.m. Eastern Time on February 28, 2025. The Fund may charge an early repurchase fee for Shares held for less than one year, and it reserves the right to adjust the NAV used for the tender offer based on future valuations. The Fund will make initial payments generally within 30 days after the valuation date, and it may retain a portion of the payment subject to the completion of its annual audit. The tender offer is not contingent on a minimum number of Shares being tendered and Shareholders retain the right to withdraw their tenders at any time before the Notice Due Date. The primary objective for this tender offer is to provide liquidity to its Shareholders and allow them to manage their investment in the Fund effectively.
Additional details:
Title Of Class: shares of beneficial interest
Offer Amount: 72528143
Initial Notice Due Date: 2025-02-28
Valuation Date: 2025-03-31
Nav Class A: 100.89
Nav Class D: 100.04
Nav Class Y: 100.18
Nav Class I: 99.87
Nav Class Z: 100.18
Early Repurchase Fee: 2.0%
Minimum Account Balance Class A: 50000
Minimum Account Balance Class D: 5000000
Minimum Account Balance Class I: 5000000
Minimum Account Balance Class Z: 10000000
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