TORONTO, (January 20, 2023) – PIMCO Global Income Opportunities Fund (TSX: PGI.UN) (“PGI”) and PIMCO Tactical Income Fund (TSX: PTI.UN) (“PTI”, and together with PGI, the “Funds”) announce that they are each launching an at-the-market equity programs (each, an “ATM Program” and together, the “ATM Programs”). The ATM Program of PGI allows PGI to issue Class A units of PGI (the “PGI Units”) having an aggregate sale price of up to $80,000,000, to the public from time to time, at the discretion of PIMCO Canada Corp. (the “Manager”). The ATM Program of PTI allows PTI to issue Class A units of PTI (the “PTI Units”) having an aggregate sale price of up to $80,000,000, to the public from time to time, at the discretion of the Manager. Any PGI Units or PTI Units issued under the applicable ATM Program will be sold at the prevailing market price at the time of sale through the Toronto Stock Exchange (“TSX”) or any other marketplace in Canada on which the PGI Units or PTI Units, as applicable, are listed, quoted or otherwise traded.
The volume and timing of distributions under the ATM Programs, if any, will be determined at the Manager’s sole discretion. Each ATM Program will be effective until February 16, 2025, unless terminated prior to such date by the applicable Fund. The Funds intend to use the proceeds from their respective ATM Programs in accordance with each Fund’s investment objectives, investment strategies and investment restrictions.
Sales of PGI Units and PTI Units through the applicable ATM Program will be made pursuant to the terms of an equity distribution agreement entered into by each Fund (together, the “Equity Distribution Agreements”), dated January 20, 2023 with National Bank Financial Inc. (the “Agent”).
Sales of PGI Units and PTI Units will be made by way of “at-the-market distributions” as defined in National Instrument 44-102 Shelf Distributions on the TSX or on any marketplace for the PGI Units or PTI Units, as applicable, in Canada. Since the PGI Units and PTI Units will be distributed at prevailing market prices at the time of the sale, prices may vary among purchasers during the period of distribution. Each ATM Program is being offered pursuant to a prospectus supplement dated January 20, 2023 to each Fund’s short form base shelf prospectus dated January 16, 2023. Copies of each Fund’s prospectus supplement and short form base shelf prospectus and the applicable Equity Distribution Agreement may be obtained from your registered financial advisor using the contact information for such advisor, or from representatives of the Agent, and are available on SEDAR at www.sedar.com.