Neuberger High Yield Strategies Fund Inc SC TO-C, filed Oct 20, 2020
Neuberger High Yield Strategies Fund Inc. (NHS)
SC TO-C
2020-10-20
View Original
Added on
October 20, 2026
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE TO
Tender Offer Statement Under Section 14(D)(1) or 13(E)(1) of the
Securities Exchange Act of 1934
NEUBERGER BERMAN HIGH YIELD STRATEGIES FUND INC.
(Name of Subject Company (Issuer))
NEUBERGER BERMAN HIGH YIELD STRATEGIES FUND INC.
(Name of Filing Person (Issuer))
COMMON STOCK, PAR VALUE $0.0001 PER SHARE
(Title of Class of Securities)
64128C106
(CUSIP Number of Class of Securities)
Joseph V. Amato
Chief Executive Officer and President
Neuberger Berman High Yield Strategies Fund Inc.
c/o Neuberger Berman Investment Advisers LLC
1290 Avenue of the Americas
New York, New York 10104-0002
(Name, Address and Telephone Number of Person Authorized to Receive
Notices
and Communications on Behalf of the Person(s) Filing Statement)
With a Copy to:
Arthur Delibert
K&L Gates LLP
1601 K Street, NW
Washington, DC 20006
Telephone: (202) 778-9000
Calculation of Filing Fee
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Transaction Valuation*
Not Applicable |
Amount Of Filing Fee*
Not Applicable |
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No filing fee is required because this filing includes only preliminary communications made before the commencement of a tender offer.
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Check the box if any part of the fee is offset as provided by Rule 0-11(a)(2) and identify the filing with which the offsetting fee was previously paid. Identify the
previous filing by registration statement number, or the Form or Schedule and the date of its filing.
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Amount Previously Paid: Not Applicable
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Filing Party: Not Applicable
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Form or Registration No.: Not Applicable
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Date Filed: Not Applicable
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| ☒ |
Check the box if the filing relates solely to preliminary communications made before the commencement of a tender offer.
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Check the appropriate boxes below to designate any transactions to which the statement relates:
| ☐ |
third party tender offer subject to Rule 14d-1.
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| ☒ |
issuer tender offer subject to Rule 13e-4.
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| ☐ | going-private transaction subject to Rule 13e-3. |
| ☐ |
amendment to Schedule 13D under Rule 13d-2.
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Check the following box if the filing is a final amendment reporting the results of the tender offer. ☐
Items 1-11.
Not applicable.
Item 12. Exhibits.
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Exhibit No.
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Document
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Item 13.
Not applicable.
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Neuberger Berman Investment Advisers LLC
1290 Avenue of the Americas
New York, NY 10104
Tel. 212.476.9000
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NEUBERGER BERMAN HIGH YIELD STRATEGIES FUND
ANNOUNCES PLAN FOR TENDER OFFER
NEW YORK, October 19, 2020 —Neuberger Berman High Yield Strategies Fund Inc. (NYSE American: NHS) (the “Fund”) announced today that
(subject to certain conditions) it will conduct a tender offer for up to 25% of its outstanding shares of common stock (the “Shares”) at a price per Share equal to 96% of its net asset value per Share as of the expiration date of the tender offer.
The Fund will announce the commencement of the tender offer at a later date. The Fund currently expects to purchase Shares tendered and accepted in the tender offer prior to December 31, 2020. In the event the tender offer is oversubscribed, Shares
will be repurchased on a pro rata basis.
Neuberger Berman Investment Advisers LLC (“NBIA”), the Fund’s investment manager, recommended the tender offer after entering into an
agreement with Saba Capital Management, L.P. (“Saba”) (the “Agreement”). Pursuant to the Agreement, Saba has agreed to terminate its pending proxy solicitation for the Fund’s 2020 Annual Meeting of Stockholders, including withdrawing its director
nominations and stockholder proposals. During the effective period of the Agreement, Saba has agreed to comply with certain standstill covenants and vote its Shares in accordance with the recommendations of the Fund’s Board of Directors.
Tender Offer Statement
The Fund has not commenced the tender offer described in this press release. This announcement is not a recommendation, an offer to
purchase or a solicitation of an offer to sell Shares of the Fund and the above statements are not intended to constitute an offer to participate in any tender offer. Information about the tender offer, including its commencement, will be provided by
future public announcements. Stockholders will be notified in accordance with the requirements of the Securities Exchange Act of 1934, as amended, and the Investment Company Act of 1940, as amended, either by publication or mailing or both. The
tender offer will be made only by an offer to purchase, a related letter of transmittal, and other documents to be filed with the SEC. Stockholders of the Fund should read the offer to purchase and tender offer statement and related exhibits when
those documents are filed and become available, as they will contain important information about the tender offer. These and other filed documents will be available to investors for free both at the website of the SEC and from the Fund.
About Neuberger Berman
Neuberger Berman, founded in 1939, is a private, independent, employee-owned investment manager. The firm manages a range of strategies—including equity,
fixed income, quantitative and multi-asset class, private equity, real estate and hedge funds—on behalf of institutions, advisors and individual investors globally. With offices in 24 countries, Neuberger Berman’s diverse team has over 2,300
professionals. For six consecutive years, the company has been named first or second in Pensions & Investments Best Places to Work in Money Management
survey (among those with 1,000 employees or more). In 2020, the PRI named Neuberger Berman a Leader, a designation awarded to fewer than 1% of investment firms for excellence in Environmental, Social and Governance (ESG) practices. The PRI also awarded
Neuberger Berman an A+ in every eligible category for our approach to ESG integration across asset classes. The firm manages $374 billion in client assets as of September 30, 2020. For more information, please visit our website at www.nb.com.
# # #
Statements made in this release that look forward in time involve risks and uncertainties. Such risks and uncertainties include, without
limitation, the adverse effect from a decline in the securities markets or a decline in the Fund's performance, a general downturn in the economy, competition from other closed end investment companies, changes in government policy or regulation,
inability of the Fund’s investment adviser to attract or retain key employees, inability of the Fund to implement its investment strategy, inability of the Fund to manage rapid expansion and unforeseen costs and other effects related to legal
proceedings or investigations of governmental and self-regulatory organizations.
Investor Contact:
Neuberger Berman Investment Advisers LLC
Investor Information
(877) 461-1899
Media Contact:
Alexander Samuelson
Neuberger Berman
(212) 476-5392
Alexander.Samuelson@nb.com