Abrdn Asia-Pacific Income Fund, Inc. Announces Details of Upcoming 1-For-6 Reverse Stock Split

abrdn Asia-Pacific Income Fund, Inc. (NYSE American:FAX) announced that its Board of Directors has approved a 1-for-6 reverse stock split of its common stock. This change aims to affect the stock prior to the opening of trading on the New York Stock Exchange on September 9, 2024. Common stockholders of record as of September 6, 2024, will be impacted by this split.

Every six shares of the Fund's outstanding common stock will be converted into one share. Although the number of shares will decrease, the total value of investments will remain the same. Stockholders' accounts will reflect fewer shares with a higher net asset value per share.

The current monthly distribution of $0.0275 per share will adjust to $0.165 per share after the split. This change aims to deliver stable cash flow without altering the monthly cash flow to stockholders.

The Board of Directors believes that this move could broaden the range of potential investors, possibly improving market liquidity and reducing per share transaction costs.

No fractional shares will be issued. Any resulting fractional shares will be sold, and the proceeds will be distributed among stockholders.