Adams Diversified Equity Fund Announces Launch of Public Tender Offer

BALTIMORE, July 05, 2024 (GLOBE NEWSWIRE) — Adams Diversified Equity Fund, Inc. (NYSE: ADX) today announced the commencement of the Fund’s previously announced tender offer to purchase for cash up to 10%, or 12,405,174 shares, of its issued and outstanding common stock at a price equal to 98% of the net asset value per share at the close of regular trading on the New York Stock Exchange (“NYSE”) on August 2, 2024, or, if the tender offer is extended, the day the tender offer expires (the “Tender Offer”).

Registered shareholders who wish to participate should contact EQ Fund Solutions, the information agent for the tender offer, at 888-886-4425. Shareholders who hold shares through a broker or other intermediary should contact their broker or other intermediary directly for further information.

Please note that the tender offer is optional for all shareholders. Shareholders who choose not to participate in this offer do not need to do anything at this time. Any shareholder who does not tender his shares will see his stake in the Fund increase proportionally to the extent that the shares are purchased as part of the public purchase offer.

The tender offer commenced today and will terminate at 5:00 p.m., New York City time, on August 2, 2024, unless extended. Additional terms and conditions of the tender offer are set forth in the offering materials, which are being distributed to shareholders of the Fund.

The tender offer is not conditioned on a minimum number of shares being tendered. If more than 10% of the Fund’s outstanding shares are tendered, the Fund will repurchase its shares from the tendering shareholders on a pro rata basis and at the same tender price. Accordingly, there can be no assurance that the Fund will purchase all of the shares tendered by a shareholder. The Fund may also decide not to accept shares tendered in the tender offer in various circumstances, as set forth in the offer documents.

Investors are urged to read the important information relating to the tender offer filed with the Securities and Exchange Commission (“SEC”), including: (i) the Offer to Purchase; (ii) the Form Letter of Transmittal; and (iii) the press release announcing the commencement of the tender offer. Once filed with the SEC, the tender offer documents may be obtained free of charge at the SEC’s website at www.sec.gov, on the Fund’s website at adamsfunds.com, or by calling EQ Fund Solutions, LLC at 888-886-4425.

This press release does not constitute a recommendation, an offer to buy or a solicitation of an offer to sell shares of the Funds and does not constitute a prospectus, circular or representation intended to be used in connection with the purchase or sale of shares of the Fund. The tender offer will be made only by an offer to purchase, a related letter of transmittal and other documents filed with the SEC as exhibits to the tender offer statement on Schedule TO, all of which are available on the SEC’s website at www.sec.gov.

About Adams Funds

Since 1929, Adams Funds has consistently helped generations of investors achieve their investment goals. Adams Funds consists of two closed-end funds, Adams Diversified Equity Fund, Inc. (NYSE: ADX) and Adams Natural Resources Fund, Inc. (NYSE: PEO). The funds are actively managed by an experienced team with a disciplined approach and have paid dividends for over 85 years through multiple market cycles. The funds are committed to paying a minimum annual distribution rate of 8% of net asset value or higher, providing reliable income for long-term investors. Shares may be purchased through our transfer agent or a broker. For more information about Adams Funds, please visit: adamsfunds.com.

For more information, please contact: adamsfunds.com/about/contact or 800.638.2479

Statements contained in this press release that are not historical facts are “forward-looking statements” within the meaning of U.S. securities laws. You should exercise caution in interpreting and relying on forward-looking statements because they are subject to uncertainties and other factors that, in some cases, are beyond the Fund’s control and could cause actual results to differ materially from those set forth in the forward-looking statements. All forward-looking statements speak only as of the date of this press release; the Fund assumes no obligation to update or revise any forward-looking statements.