Company: CLM
Filing Date: 2025-04-08
Form Type: N-2/A
Source: 0001398344-25-006812
Chunk: 17

Company: Cornerstone Strategic Investment Fund, Inc.
Filing Date: 2025-04-08
Form: N-2/A
Chunk 17
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 size of the Fund, the Fund’s expense ratio will be lowered. However, 
 increasing the Fund’s assets results in a benefit to the Fund’s Investment Adviser because the Management fee that is             
 paid to the Investment Adviser increases as the Fund’s net assets increase.                                                       |

| 13 |

| - | Because the Offering will                                                                                                        
 increase the Fund’s outstanding Shares, it may increase the number of Stockholders over the long term, which could increase      
 the level of market interest in and visibility of the Fund and improve the trading liquidity of the Shares on the NYSE American. |

| - | The Board expects the Offering                                                                                                            
 to be anti-dilutive with respect to net asset value per share, but not to voting, to all Stockholders. Those Stockholders electing        
 not to participate will not be diluted, notwithstanding the fact that all the costs of the Offering will be borne by the Stockholders     
 whether or not they exercise their Rights, because the Offering price is set at a premium to NAV and the estimated expenses incurred      
 for the Offering will be more than offset by the increase in the net assets of the Fund such that non-participating Stockholders          
 will receive an increase in their net asset value, so long as the number of Shares issued to participating Stockholders is not materially 
 less than a full exercise of the Basic Subscription amount. Historically, all Prior Rights Offerings have been anti-dilutive with         
 respect to the net asset value per share. Stockholders have exercised not only the basic subscription but also a significant percentage   
 of the additional subscription shares offered. The Offering is expected to be dilutive with respect to Stockholder’s voting               
 percentages because Stockholders electing not to participate in the Offering will own a smaller percentage of the total number of         
 shares outstanding after the completion of the Offering.                                                                                  |

Board Considerations in Approving the Offering.
At a meeting held on February 21, 2025, the Board considered the approval of the Offering. In considering whether or not to approve the
Offering, the Board relied on materials and information prepared and presented by the Fund’s management at such meeting and discussions
at that time. Based on such materials and their deliberations at this meeting, the Board determined that it would be in the best interests
of the Fund and its Stockholders to conduct the Offering in order to increase the assets of the Fund available for current and future
investment opportunities. In making its determination, the Board considered the various factors set forth in “The Offering –