Cornerstone Strategic Investment Fund, Inc. Announces Completion of Rights Offering

NEW YORK, May 19, 2025 (GLOBE NEWSWIRE) -- Cornerstone Strategic Investment Fund, Inc. (the “Fund”) (NYSE American: CLM) (CUSIP: 21924B302) is pleased to announce the completion of its one-for-three rights offering which expired on Friday, May 16, 2025 (the “Offering”). Under the terms of the Offering, record date stockholders were entitled to purchase one newly issued share of common stock of the Fund for every three rights held. The subscription price for each newly issued share was determined to be $7.30 which, under the terms of the prospectus, was equal to the greater of (i) 112% of net asset value per share as calculated at the close of trading on the date of expiration of the Offering and (ii) 80% of the market price per share at such time.

Based on preliminary results provided by the Fund's subscription agent, the Fund received requests for approximately $173 million of its shares. The Fund anticipates issuing over-subscription shares under the additional subscription privilege. 

The subscription price is higher than the original estimated subscription price of $6.61. It is anticipated that shares will be issued on or about Thursday, May 22, 2025. Stockholders are encouraged to contact their broker regarding the specifics of their account. Newly issued shares will not be entitled to the Fund’s distribution to stockholders for the month of May 2025.

Cornerstone Strategic Investment Fund, Inc. is a closed-end, diversified management investment company and is registered with the U.S. Securities & Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended.

Cornerstone Strategic Investment Fund, Inc. is traded on the NYSE American under the trading symbol “CLM”. The Fund’s investment adviser is Cornerstone Advisors, LLC, which also serves as the investment adviser to another closed-end fund, Cornerstone Total Return Fund, Inc. (NYSE American: CRF). For more information regarding Cornerstone Strategic Investment Fund, Inc. or Cornerstone Total Return Fund, Inc. please visit , and .

Past performance is no guarantee of future performance. An investment in the Fund is subject to certain risks, including market risk. In general, shares of closed-end funds often trade at a discount from their net asset value and at the time of sale may be trading on the exchange at a price that is more or less than the original purchase price or the net asset value. An investor should carefully consider the Fund’s investment objective, risks, charges and expenses. Please read the Fund’s disclosure documents before investing.

In addition to historical information, this report contains forward-looking statements, which may concern, among other things, domestic and foreign markets, industry and economic trends and developments and government regulation and their potential impact on the Fund’s investment portfolio. These statements are subject to risks and uncertainties, including the factors set forth in the Fund’s disclosure documents, filed with the SEC, and actual trends, developments and regulations in the future and their impact on the Fund could be materially different from those projected, anticipated or implied. The Fund has no obligation to update or revise forward-looking statements.