High Income Securities Fund Extends Non-Transferable Rights Offering

NEW YORK--(BUSINESS WIRE)--High Income Securities Fund (“the Fund”) (NYSE: PCF) announced today that its Board of Trustees has elected to extend the Expiration Date of the Fund’s non-transferable rights offering to purchase up to an aggregate of 5,565,006 additional shares of its common stock from January 22, 2021 to 5 p.m., New York City time on January 29, 2021, unless further extended (the “Expiration Date”). The Board has received reports that some custodians established internal “cut-off” dates that were earlier than the Expiration Date which their clients did not know about. Consequently, the Board has determined to extend the Expiration Date to allow all rights holders additional time to exercise them. As of 5 p.m. on January 22, 2021, the Fund had received subscription requests for a total of 3,296,883 shares (inclusive of shares requested pursuant to the oversubscription privilege, as discussed below).