RiverNorth Marketplace Announces Repurchase Offer Final Results

RiverNorth Marketplace Lending Corporation, an established and currently operating as a closed-end interval fund dedicated to the marketplace lending asset class, announced on Thursday the final results of its repurchase offer for up to 5%, or 330,914 of its outstanding common shares. The repurchase offer expired at 5:00 P.M. Eastern Time on January 8th. The company observed:

Based on information provided by DST Systems, Inc., the depositary for the repurchase offer, a total of 4,392,405 shares were submitted for redemption and 330,914 shares were repurchased. In accordance with the terms and conditions of the repurchase offer, because the number of shares repurchased exceeds the number of shares offered to purchase, the Fund will purchase shares from tendering shareholders on a pro-rata basis (disregarding fractional shares).”

RiverNorth went on to add that the purchase  price of repurchased shares is equal to the Fund’s net asset value per share calculated as of the close of regular trading on the New York Stock Exchange (NYSE) on January 8, 2020, which is equal to $20.17 per share.

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