The Herzfeld Caribbean Basin Fund, Inc. To Conduct a Tender Offer for up to 10% of Outstanding Common Shares

MIAMI BEACH, Fla., Feb. 09, 2024 (GLOBE NEWSWIRE) -- Thomas J. Herzfeld Advisors, Inc., an SEC-registered investment advisor, today announced its intention to commence a Tender Offer by The Herzfeld Caribbean Basin Fund, Inc. (Nasdaq: CUBA) (the “Fund”) on February 20, 2024, in accordance with the Fund’s ongoing plan to address the Fund’s trading price discount to its net asset value (“NAV”) per share that was previously announced on May 31, 2019, and subsequently extended and modified by the Fund’s Board of Directors in November 2023 (the “Plan”).

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