Live Breaking News & Updates on Neuberger Berman Investment Adviser

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NEW YORK, May 26, 2021 /PRNewswire/  Neuberger Berman Next Generation Connectivity Fund Inc. (the Fund ), a newly organized closed-end fund, announced today the initial public offering of its shares of common stock. The Fund began trading today on the NYSE under the symbol NBXG. The Fund has raised $1.5 billion in proceeds, agreeing to sell 75,000,000 shares of common stock at a price of $20.00 per share.  In addition, the Fund has granted the underwriters an option to purchase up to 10,766,733 additional shares of common stock at the public offering price. If the underwriters exercise their option to buy additional shares in full, which may or may not occur, the Fund will have raised approximately $1.715 billion.  The offering is expected to close on May 28, 2021, subject to customary closing conditions. ....

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