SEC Form 4/A · accession 0001259749-15-000006
DENALI FUND INC. · DNY
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
This is an amendment (Form 4/A). It replaces an earlier filing for the same period.
Reporting owner
Dean Jacobson
Director
Period of report
Mar 20, 2015
Accepted (ET)
May 6, 2015 · 1:27 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001187520
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF2 | Mar 20, 2015 | D | 2,000 | — | D | 0 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1On March 20, 2015, Boulder Total Return Fund, Inc. ("BTF"), The Denali Fund Inc. ("DNY") and First Opportunity Fund, Inc. ("FOFI") reorganized into Boulder Growth & Income Fund, Inc. ("BIF") (the "Reorganization") pursuant to that certain Agreement and Plan of Reorganization, dated as of March 5, 2015 (the "Agreement"). Pursuant to the Agreement, BIF acquired all of the assets and liabilities of BTF, DNY and FOFI in exchange for common shares of BIF (the "BIF Shares").
- F2The Reorganization occurred based on the relative net asset values ("NAV") of BIF, BTF, DNY and FOFI as of the close of regular trading on the New York Stock Exchange on March 20, 2015. At such time, BIF reported net assets of $273,608,352.67 and a NAV per share of $10.73 and DNY reported net assets of $108,819,429.37 and a NAV per share of $26.18. Holders of DNY shares received 2.439214 BIF Shares for each DNY share owned. Fractional shares were paid in cash. In connection with the Reorganization, Mr. Jacobson received 4,878 BIF Shares (and cash for fractional shares, if any) for his 2,000 shares of DNY.
Remarks
This Form 4/A (this "Amendment") is being filed by the Reporting Person to amend and restate in its entirety the Form 4 originally filed by the Reporting Person with the Securities and Exchange Commission on March 24, 2015 (the "Original Form 4"). This Amendment revises the Original Form 4 by (i) correcting the transaction code in Column 3 of Table I to reflect that the disposition of shares was an exempt transaction under Rule 16b-3(e) and not an open market or private sale of non-derivative or derivative security and (ii) amending the footnote to provide more adequate disclosure of the Reorganization.