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HMS Income Fund repurchases common shares

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HMS Income Fund repurchases common shares

HMS Income Fund Inc. on Sept. 3 purchased 802,945.91 common shares that were validly tendered and not withdrawn pursuant to a tender offer dated July 8.

The shares were purchased at $7.93 apiece, which was the net asset value per share as of Aug. 29. The aggregate purchase price was approximately $6.4 million.

The tender offer terminated at 5 p.m. CT on Aug. 16. A total of 1,985,720.441 shares were validly tendered and not withdrawn pursuant to the offer as of such date.

Because the amount of repurchase requests exceeded the number of shares the company sought to buy back under the offer, HMS Income Fund bought shares on a pro-rata basis, subject to odd lot priority. Stockholders who owned fewer than 100 shares and who properly tendered and did not withdraw such shares and elected to be subject to odd lot priority were not subject to proration.

All shares tendered by eligible odd lot holders were repurchased. The company repurchased about 40.4% of the number of shares tendered by each remaining stockholder who participated in the tender offer.