SEC Form 4 · accession 0001140361-17-044628
KKR Income Opportunities Fund · KIO
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael E Cahill
Director
Period of report
Nov 27, 2017
Accepted (ET)
Dec 1, 2017 · 5:00 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001515940
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2,F3,F4 | Nov 27, 2017 | X | 833 | — | A | 5,500 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Oversubscription Privilege (contingent right to buy)F1,F2,F3,F4 | — | Nov 27, 2017 | X | 833 | D | Oct 19, 2017 | Nov 17, 2017 | Common Stock | 833 | 0 | D |
Explanation of responses
- F1On October 11, 2017, KKR Income Opportunities Fund (the "Fund") announced the commencement of a pro rata offering (the "Rights Offering") of transferable rights (the "Rights") to holders of the Fund's common shares, as of the record date of October 19, 2017 ("Record Date Shareholder"), entitling the holders of such rights to subscribe for up to an aggregate of 5,085,079 of the Fund's common shares. Record Date Shareholders received one Right for each outstanding whole common share held on the record date. The Rights entitle their holders to purchase one new common share for every three Rights held. The subscription price per common share was $14.87 (the "basic subscription privilege"). The Rights Offering also included an oversubscription privilege, which entitled holders who fully exercised their basic subscription privilege the right to purchase, at a price of $14.87 per common share, additional common shares of the Fund, (continued in footnote 2)
- F2subject to availability and pro rata allocation of shares among Record Date Shareholders exercising such oversubscription privilege. The subscription rights expired on November 17, 2017 at 5:00 p.m. Eastern time.
- F3Following the conclusion of the Rights Offering, the common shares that were not purchased by other Record Date Shareholders were allocated pro rata among Rights holders exercising their oversubscription privileges based on the number of common shares of the Fund each of those Rights holders owned on the record date and subject to the amount of shares such holder subscribed for. On November 9, 2017, the reporting person exercised his basic subscription rights and oversubscription privileges in full to purchase common shares of the Fund issued in the Rights Offering. The reporting person purchased 1,167 common shares of the Fund from the exercise of his basic subscription rights (previously reported in a Form 4 filed on November 13, 2017), plus an additional 833 common shares of the Fund pursuant to the oversubscription privileges associated with the reporting person's subscription rights on the basis of the Fund's allocation of common shares, (continued in footnote 4)
- F4as of the closing of the subscription period. On November 27, 2017, the third-party subscription agent for the Rights Offering determined the allocations to be made to the Record Date Shareholders who exercised their oversubscription privileges.