Form 4: Director John A. Gelety Disposes of Shares in Herzfeld Caribbean Basin Fund Inc. Through Tender Offer

John A. Gelety, a director of Herzfeld Caribbean Basin Fund Inc., disposed of 906 shares of common stock through a tender offer on March 19, 2024.

Summary

• On March 19, 2024, John A. Gelety, a director of Herzfeld Caribbean Basin Fund Inc. (CUBA), disposed of 906 shares of common stock.
• The transaction occurred through a tender offer at a price of $3.3833 per share.
• Following the transaction, Gelety beneficially owns 5,760 shares of the company's common stock.
• The shares were tendered in connection with the issuer tender offer by the Fund pursuant to the Tender Offer Statement on Schedule TO filed with the Securities and Exchange Commission on February 20, 2024.
• The Fund will purchase only a prorated portion of the shares properly tendered by each tendering stockholder.
• Based on a preliminary count reported by the Fund, the preliminary proration factor is 13.59%.
• An amended Form 4 will be filed to report the number of shares actually disposed of by the reporting person in connection with the Tender Offer once the final proration factor is determined.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing reporting a transaction. It doesn't convey strong positive or negative sentiment.

Risks

• The final proration factor for the tender offer is not yet determined, which could affect the final number of shares disposed of by the reporting person.

Future Outlook

An amended Form 4 will be filed to report the final number of shares disposed of once the final proration factor is determined.

Industry Context

This filing reflects insider activity related to a closed-end fund focused on the Caribbean Basin, which may be of interest to investors tracking insider transactions and fund performance.

Stakeholder Impact

• Shareholders may be interested in the tender offer and the proration factor, as it affects the number of shares the fund will repurchase.

Next Steps

• An amended Form 4 will be filed to report the final number of shares disposed of by the reporting person in connection with the Tender Offer once the final proration factor is determined.

Key Dates