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Virtus Total Return Fund Inc. Announces Final Results of Tender Offer

HARTFORD, Conn., May 07, 2024--(BUSINESS WIRE)--Virtus Total Return Fund Inc. (NYSE: ZTR) ("the Fund") today announced final results of its tender offer ("Tender Offer") to acquire 10% of its outstanding shares, which expired May 1, 2024 at 5:00 p.m. eastern time.

The Fund accepted 6,857,832 shares, representing 10% of its outstanding shares, for payment on or about May 8, 2024. A total of 23,504,666.8517 shares were properly tendered. Therefore, on a prorated basis, approximately 29.18% of the shares tendered by each tendering stockholder have been accepted for payment.

The purchase price of the accepted shares is 98% of the Fund’s net asset value per share determined as the close of regular trading session of the New York Stock Exchange on May 2, 2024, which is equal to $5.9976 per share.

About the Fund

Virtus Total Return Fund Inc. is a diversified closed-end fund whose investment objective is capital appreciation, with income as a secondary objective. Virtus Investment Advisers, Inc. is the investment adviser and Duff & Phelps Investment Management Co. and Newfleet Asset Management are the subadvisers to the Fund. For more information on the Fund, contact shareholder services at (866) 270-7788, by email at closedendfunds@virtus.com, or through the Closed-End Funds section of virtus.com.

Fund Risks

An investment in a fund is subject to risk, including the risk of possible loss of principal. A fund’s shares may be worth less upon their sale than what an investor paid for them. Shares of closed-end funds may trade at a premium or discount to their NAV. For more information about the Fund’s investment objective and risks, please see the Fund’s annual report. A copy of the Fund’s most recent annual report may be obtained free of charge by contacting "Shareholder Services" as set forth at the bottom of this press release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240507161571/en/

Contacts

For Further Information:
Shareholder Services
(866) 270-7788
closedendfunds@virtus.com