2 days ago, I called IR, got voice mail and asked them if they could reply back and tell me if this fund was still leveraged and if so, how much? Also asked them what would cause the divvy to be cut again. No reply back. THATS JUST GREAT! *&&^^ck!!!!
My comment was based on this statement in the SEC filing referenced earlier:
Q: How will the Reorganization be effected?
A: Assuming shareholders approve the Reorganization, IIA will merge with and into IGR Merger Subsidiary ("Merger Subsidiary"), a direct, wholly-owned subsidiary of IGR, and IIA will terminate its registration under the Investment Company Act of 1940. You will become a shareholder of IGR. You will receive newly-issued common shares of beneficial interest of IGR in exchange for your IIA common shares, the aggregate net asset value (not the market value) of which will equal the aggregate net asset value (not the market value) of the common shares you held immediately prior to the Reorganization, less the costs of the Reorganization (though you may receive cash for a fractional share). Following the Reorganization, Merger Subsidiary will dissolve under Delaware law and be liquidated into IGR.
interesting point..... from the way the release is written I assumed it would be a 1:1 exchange . If your 80% is what they do...then IIA stockholders would loose overall based on the current dividend rate since they both pay the same rate, or am I mistaken? In any event...time will tell... I own both and am so far underwater that I might as well go along for the ride... I love a good mystery.