(a)(5)
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Contacts:
Linda Skolnick | James Nichols | |
Manager, Corporate Communications | Senior Vice President, Marketing | |
310-772-6533 | 201-324-6860 |
SUNAMERICA FOCUSED ALPHA LARGE-CAP FUND, INC.
ANNOUNCES COMMENCEMENT OF IN-KIND TENDER OFFER
JERSEY CITY, NJ, October 7, 2010—SunAmerica Focused Alpha Large-Cap Fund, Inc. (NYSE: FGI) (the “Fund”) announced today that the Fund is offering to acquire up to 25% of its outstanding shares at a price equal to 98.5% of the Fund’s NAV per share as of the close of regular trading on the New York Stock Exchange on the business day immediately following the day the offer expires (“Pricing Date”), in exchange for apro rata distribution of the Fund’s portfolio securities (subject to certain exceptions) (the “In-Kind Tender Offer”).
The In-Kind Tender Offer will commence on October 7, 2010, and will expire at 5:00 p.m., Eastern time on November 11, 2010, unless extended (the “Expiration Date”). The Pricing Date is expected to be November 12, 2010. The In-Kind Tender Offer is being made on the terms and subject to the conditions set forth in the Offer Notice and related Letter of Transmittal, which will be mailed on or about October 7, 2010 to record holders of common stock.
This announcement is not a recommendation, an offer to purchase or a solicitation to sell any securities of the Fund. The In-Kind Tender Offer will be made only by an Offer Notice, a related Letter of Transmittal and other documents which have been filed with the Securities and Exchange Commission as exhibits to a tender offer statement on Schedule TO. Shareholders of the Fund should read the Offer Notice and tender offer statement on Schedule TO and related exhibits, as they contain important information about the In-Kind Tender Offer. Shareholders may obtain further information regarding the In-Kind Tender Offer from Okapi Partners LLC, the Information Agent for the In-Kind Tender Offer, by calling 1-877-279-2311.
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The Fund is a non-diversified, closed-end management investment company. The Fund’s investment objective is to provide growth of capital. The Fund seeks to pursue this objective by employing a concentrated stock picking strategy in which the Fund, through subadvisers selected by SunAmerica Asset Management Corp., actively invests primarily in a small number of equity securities (i.e., common stocks) and to a lesser extent equity-related securities (i.e., preferred stocks, convertible securities, warrants and rights) of large-capitalization companies primarily in the U.S. markets. Marsico Capital Management, LLC is the large-cap growth stock subadviser and BlackRock Investment Management, LLC is the large-cap value stock subadviser.
For more information about the SunAmerica Focused Alpha Large-Cap Fund, please visit www.sunamericafunds.com
SunAmerica Asset Management Corp.
Harborside Financial Center, 3200 Plaza 5, Jersey City, NJ 07311
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As of September 30, 2010, SunAmerica Asset Management Corp. managed and/or administered approximately $40.8 billion of assets.
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Marsico Capital Management, LLC and BlackRock Investment Management, LLC are not affiliated with SunAmerica Asset Management Corp.
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Investors should carefully consider the SunAmerica Focused Alpha Large-Cap Fund’s investment objective, strategies, risks, charges and expenses before investing.
THE SUNAMERICA FOCUSED ALPHA LARGE-CAP FUND SHOULD BE CONSIDERED AS ONLY ONE ELEMENT OF A COMPLETE INVESTMENT PROGRAM. THE FUND’S EQUITY EXPOSURE AND DERIVATIVE INVESTMENTS INVOLVE SPECIAL RISKS. AN INVESTMENT IN THIS FUND SHOULD BE CONSIDERED SPECULATIVE.
There is no assurance that the SunAmerica Focused Alpha Large-Cap Fund will achieve its investment objective. The Fund is actively managed and its portfolio composition will vary. Investing in the Fund is subject to several risks, including: Non-Diversified Status Risk, Growth and Value Stock Risk, Key Adviser Personnel Risk, Investment and Market Risk, Issuer Risk, Foreign Securities Risk, Emerging Markets Risk, Income Risk, Hedging Strategy Risk, Derivatives Risk, Preferred Securities Risk, Debt Securities Risk, Small and Medium Capitalization Company Risk, Leverage Risk, Liquidity Risk, Market Price of Shares Risk, Management Risk, Anti-Takeover Provisions Risk, Portfolio Turnover Risk and Non-Investment Grade Securities Risk. The price of shares of the Fund traded on the New York Stock Exchange will fluctuate with market conditions and may be worth more or less than their original offering price. Shares of closed-end funds often trade at a discount to their net asset value, but may also trade at a premium.
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SunAmerica Asset Management Corp.
Harborside Financial Center, 3200 Plaza 5, Jersey City, NJ 07311