NEW YORK, NY--(Marketwire - Dec 24, 2012) - Cornerstone Strategic Value Fund, Inc. (the "Fund") (
Based on preliminary results provided by the Fund's subscription agent, the Fund received requests for approximately $22.9 million of its shares.
The subscription price is lower than the original estimated subscription price of $6.23. Under the prospectus, any excess payment received from a stockholder will, unless otherwise indicated on the subscription certificate received from such stockholder, be applied towards the purchase of unsubscribed shares. It is anticipated that shares will be issued on or shortly after Wednesday, December 26, 2012. Stockholders are encouraged to contact their broker regarding the specifics of their account. Newly-issued shares will not be entitled to the Fund's distribution to stockholders for the month of December.
Cornerstone Strategic Value Fund, Inc. is a diversified, closed-end management investment company organized as a Maryland corporation, and is registered with the Securities and Exchange Commission under the Investment Company Act of 1940, as amended. The Fund is listed on the NYSE MKT under the ticker symbol "CLM".