Tender Offer - Variant Alternative Lending Fund
Form Type: SC TO-I
Filing Date: 2025-04-17
Corporate Action: Tender-offer
Type: New
Accession Number: 000121390025032801
Filing Summary: Variant Alternative Lending Fund is offering to purchase up to approximately 5% of its net assets (around $2,440,277 or about 98,254 shares) from shareholders at their net asset value (NAV) as calculated on May 15, 2025. The NAV per Institutional Class Share was reported as $24.91 as of April 16, 2025. Tendering shareholders must do so by 4:00 p.m. ET on May 15, 2025, with the option for the Fund to extend this deadline. The Offer is non-conditioned on a minimum number of shares being tendered and will be executed on a 'first in-first out' basis. Shareholders can withdraw their tenders until the Notice Due Date. The Fund plans to finance the repurchase through cash on hand, sales of portfolio holdings, or borrowings if necessary. The Fund’s Board has discretion to extend the Offer, cancel it, or postpone the acceptance of shares.
Document Link: View Document
Additional details:
Name Of Company: Variant Alternative Lending Fund
Cusip Number: 92220T107
Maximum Purchase Amount: 2440277
Maximum Shares: 98254
Total Outstanding Shares: 1965078
Nav Per Share: 24.91
Minimum Account Balance: 1000000
Form Type: SC TO-I
Filing Date: 2025-01-30
Corporate Action: Tender-offer
Type: New
Accession Number: 000121390025008462
Filing Summary: Variant Alternative Lending Fund is initiating a tender offer to purchase shares of beneficial interest in the Fund amounting to up to approximately 5.00% of the net assets, which equates to around $1,087,121 for about 43,287 shares from shareholders at their net asset value (NAV). The NAV per Institutional Class Share was reported at $25.11 as of January 27, 2025. Shareholders must tender their shares by 4:00 p.m. Eastern Time on February 28, 2025, unless extended by the Fund's Board. The Offer is not contingent on a minimum number of Shares being tendered and will be conducted on a first in-first out basis. Payments for tendered shares will be conducted in cash, potentially sourced from cash on hand, proceeds of sales of portfolio holdings, or borrowings. Shareholders can withdraw their tenders any time before the Offer's expiration and re-tender their shares as per the specified procedures. The Fund will not repurchase shares that would cause a shareholder's account balance to fall below a minimum of $1,000,000 unless the Board waives this requirement. The Offer aims to provide liquidity to current shareholders.
Document Link: View Document
Additional details:
Name Of Subject Company: Variant Alternative Lending Fund
Title Of Class Of Securities: shares of beneficial interest
Cusip Number: 92220T107
Net Assets Of Fund: 21742429
Initial Notice Due Date: 2025-02-28
Nav Per Share: 25.11
Maximum Percentage Of Net Assets Tendered: 5.00
Tender Expiration Date: 2025-02-28
Shareholder Minimum Account Balance: 1000000
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