Company: SWZ
Filing Date: 2025-10-03
Form Type: N-2
Source: 0001999371-25-014685
Chunk: 10

Company: Total Return Securities Fund
Filing Date: 2025-10-03
Form: N-2
Chunk 10
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In the event that the Estimated Subscription Price is more than the Subscription Price on the Expiration Date, any resulting excess amount paid by a Rights Holder towards the purchase of Shares in the Offering will be applied by the Fund towards the purchase of additional Shares under the Basic Subscription or, if such Rights Holder has exercised all of the Rights initially issued to such Rights Holder under the Basic Subscription, towards the purchase of an additional number of Shares pursuant to the Additional Subscription Privilege. Any Rights Holder who desires that such excess not be treated by the Fund as a request by the Rights Holder to acquire additional Shares in the Offering and that such excess be refunded to the Rights Holder must so indicate in the space provided on the Subscription Certificate.

Completed Subscription Certificates must be received by the Subscription Agent prior to 5:00 p.m., New York City time, on the Expiration Date (or Extended Expiration Date, as the case may be). The Subscription Certificate and payment should be delivered to the Subscription Agent at the following address:

| If                   
 by first class mail: 
 [●]                  | If                    
 by overnight courier: 
 [●]                   |

Subscription Agent. The Subscription Agent is [●], with an address at [●]. The Subscription Agent will receive from the Fund an amount estimated to be $ [●], comprised of the fee for its services and the reimbursement for certain expenses related to the Offering. INQUIRIES BY ALL RIGHTS HOLDERS SHOULD BE DIRECTED TO THE SUBSCRIPTION AGENT, [●]; RIGHTS HOLDERS MAY ALSO CONSULT THEIR BROKERS OR NOMINEES.

Payment for Shares. Payment for Shares shall be calculated by multiplying the Estimated Subscription Price by the sum of (i) the number of Shares intended to be purchased in the Basic Subscription, plus (ii) the number of additional Shares intended to be subscribed for under the Additional Subscription Privilege. For example, based on the Estimated Subscription Price of $ [●]per Share, if a Shareholder receives 1,000Rights and wishes to subscribe for 1,000Shares in the Basic Subscription, and also wishes to subscribe for 100additional Shares under the Additional Subscription Privilege, such Shareholder would remit payment in the amount of $ [●]($ [●]plus $ [●]).

Rights Holders who wish to acquire Shares in the Basic Subscription or pursuant to the Additional Subscription Privilege must, together with the properly completed and executed Subscription Certificate, send payment for the Shares acquired in the Basic Subscription and any additional Shares subscribed for