| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | CUBA | Common stock | Exercise of in-the-money or at-the-money derivative security | $966K | +418K | +34.79% | $2.31 | 1.62M | Dec 18, 2023 | Direct | F5 |
| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Underlying Class | Amount | Exercise Price | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | CUBA | Oversubscription Privilege (contingent right to buy) | Exercise of in-the-money or at-the-money derivative security | $0 | -418K | -100% | $0.00* | 0 | Dec 18, 2023 | Common Stock | 418K | $2.31 | Direct | F1, F2, F3, F4, F5 |
| Id | Content |
|---|---|
| F1 | The Herzfeld Caribbean Basin Fund, Inc. (the "Fund") recently completed a pro rata offering (the "Rights Offering") of non-transferable subscription rights ("Rights") to its common stockholders of record as of the close of business on November 3, 2023 (the "Record Date Stockholder") entitling the holders of such Rights to purchase additional shares of common stock of the Fund (the "Common Stock"). Record Date Stockholders received one Right for each outstanding whole share of Common Stock held on the record date. The Rights entitled their holders to purchase one new share of Common Stock for every one Right held at a discount to the market price of the Common Stock. The subscription price per share of Common Stock was $2.31 (the "basic subscription privilege"). |
| F2 | Record Date Stockholders who fully exercised their Rights were entitled to subscribe, subject to certain limitations and subject to allotment, for additional shares of Common Stock which were not subscribed for (the "Over-Subscription Privilege"). Both with respect to Common Stock owned by the reporting person (i) individually and (ii) in his role as portfolio manager of investment advisory accounts of the clients of Thomas J. Herzfeld Advisors, Inc., a registered investment adviser for which the reporting person has dispositive and/or voting power, the reporting person fully exercised all Rights received and subscribed for additional shares of Common Stock pursuant to the Over-Subscription Privilege, subject to the pro rata allocation of available shares of Common Stock. Fractional shares of Common Stock were not issued. The subscription period commenced on the Record Date and expired on December 13, 2023. |
| F3 | The reporting person fully exercised all Rights received and subscribed for additional shares of Common Stock pursuant to the Over-Subscription Privilege, subject to the pro rata allocation of available shares of Common Stock. Fractional shares of Common Stock were not issued. The subscription period commenced on the record date and expired on December 13, 2023. Following the conclusion of the Rights Offering, the shares of Common Stock that were not subscribed for by the holders of Rights in the basic subscription privilege were allocated pro rata among Rights holders that exercised their Over-Subscription Privilege based on the number of shares of Common Stock each of those Rights holders owned on the record date and subject to the amount of shares of Common Stock such holder subscribed for. |
| F4 | The reporting person purchased 600,831 shares of Common Stock from the exercise of his rights in the basic subscription privilege (previously reported in a Form 4 filed on December 15, 2023), plus an additional 418,114 shares of Common Stock pursuant to the Over-Subscription Privilege associated with the reporting person's subscription rights on the basis of the Fund's allocation of shares of Common Stock after the close of the subscription period. On December 18, 2023, the third-party subscription agent for the Rights Offering determined the allocations to be made to the Record Date Stockholders who exercised their Over-Subscription Privilege. The Common Stock subscribed for will be issued after receipt of all stockholder payments. |
| F5 | On December 20, 2023, the reporting person filed a Form 4 which inadvertently reported that, following the exercise of his rights in the basic subscription privilege, he purchased an additional 440,049 shares of Common Stock pursuant to the Over-Subscription Privilege. In fact, as reported in this amendment, the reporting person purchased an additional 418,144 shares of Common Stock pursuant to the Over-Subscription Privilege. |