Company: CHY
Filing Date: 2025-02-21
Form Type: N-2ASR
Source: 0001104659-25-016081
Chunk: 169

Company: CALAMOS CONVERTIBLE & HIGH INCOME FUND
Filing Date: 2025-02-21
Form: N-2ASR
Chunk 169
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 symbol “CHY.” As of January 31, 2025, the last reported sale price for our common shares was $[]. Sales of our common shares, if any, under this prospectus supplement and the accompanying prospectus may be made in negotiated transactions or transactions that are deemed to be “at the market” as defined in Rule 415 under the 1933 Act, including sales made directly on the Nasdaq or sales made to or through a market maker other than on an exchange. See “Plan of Distribution” in this prospectus supplement. Our common shares may not be sold through agents, underwriters or dealers without delivery or deemed delivery of a prospectus and a prospectus supplement describing the method and terms of the offering of our securities. Under the 1940 Act, the Fund may not sell any common shares at a price below the current net asset value of such common shares, exclusive of any distributing commission or discount. SUP-1 Use of Proceeds Unless otherwise specified in this prospectus supplement, we currently intend to use the net proceeds from the sale of our common shares in this offering primarily to invest in accordance with our investment objective and policies (as described under “Investment Objective and Principal Investment Strategies,” beginning on page [] of the accompanying prospectus) within approximately three months of receipt of such proceeds. Such investments may be delayed if suitable investments are unavailable at the time or for other reasons. We may also use proceeds from the sale of our securities (i) to retire all or a portion of any short-term debt we incur in pursuit of our investment objective and policies, (ii) to redeem any outstanding senior securities, and (iii) for working capital purposes, including the payment of interest and operating expenses, although there is currently no intent to issue securities primarily for these purposes. CAPITALIZATION The Fund may offer and sell up to [] of our common shares, no par value per share. The following table sets forth our capitalization on a historical basis as of [], []:

|                                                                                                             |     | Actual |     | As       
 Adjusted |
| Loans(1)                                                                                                    |     |        |     |          |
| Preferred Shares                                                                                            |     |        |     |          |
| Common shares, no par value per share, unlimited shares authorized, outstanding (actual) shares outstanding 
 (as adjusted)                                                                                               |     |        |     |          |
| Undistributed net investment income (loss)                                                                  |     |        |     |          |
| Accumulated net realized gain (loss) on investments