Company: CLM
Filing Date: 2025-04-08
Form Type: N-2/A
Source: 0001398344-25-006812
Chunk: 84

Company: Cornerstone Strategic Investment Fund, Inc.
Filing Date: 2025-04-08
Form: N-2/A
Chunk 84
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) at a subscription price of $23.68 per Share, for a total offering of
$74,788,165.

The 2012 Offering expired on December 21, 2012 and
included similar terms and conditions as this Offering. Pursuant to the 2012 Offering, the Fund issued 970,072 Shares at a subscription
price of $23.96 per Share, for a total offering of $23,242,931.

| 54 |

The 2011 Offering expired on December 16, 2011 and
included similar terms and conditions as this Offering. Pursuant to the 2011 Offering, which was fully subscribed, the Fund issued 1,433,722
Shares (716,861 Shares of which were Over-Subscription Shares) at a subscription price of $24.36 per Share, for a total offering of $34,925,455.

The 2010 Offering expired on December 10, 2010 and
included similar terms and conditions as this Offering. Pursuant to the 2010 Offering, the Fund issued 358,457 Shares at a subscription
price of $32.96 per Share, for a total offering of $11,812,869.

Repurchase of Shares

The Fund may, pursuant to Section 23 of the Investment
Company Act, purchase Shares on the open market from time to time, at such times, and in such amounts as may be deemed advantageous to
the Fund. Nothing herein shall be considered a commitment to purchase such Shares. The Fund had no repurchases during the year ended
December 31, 2024. No limit has been placed on the number of Shares to be repurchased by the Fund other than those imposed by federal
securities laws. All purchases will be made in accordance with federal securities laws, with Shares repurchased held in treasury for
future use by the Fund. In determining to repurchase Shares, the Board of Directors, in consultation with the Investment Adviser, will
consider such factors as the market price of the Shares, the net asset value of the Shares, the liquidity of the assets of the Fund,
effect on the Fund’s expenses, whether such transactions would impair the Fund’s status as a regulated investment company
or result in a failure to comply with applicable asset coverage requirements, general economic conditions and such other events or conditions,
which may have a material effect on the Fund’s ability to consummate such transactions.

Additional Provisions of the Charter and By-laws

A Director