# EDGAR Filing Document

**Accession Number:** 0000836412
**File Stem:** 0001193125-25-311337
**Filing Date:** 2025-12
**Character Count:** 9734
**Document Hash:** be93ce1eb27392d25ccbe1f2c268d027
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-311337.hdr.sgml**: 20251208

**ACCESSION NUMBER**: 0001193125-25-311337

**CONFORMED SUBMISSION TYPE**: SC TO-I/A

**PUBLIC DOCUMENT COUNT**: 3

**FILED AS OF DATE**: 20251208

**DATE AS OF CHANGE**: 20251208

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Virtus Total Return Fund Inc.
- **CENTRAL INDEX KEY:** 0000836412

**ORGANIZATION NAME:**
- **EIN:** 133474242
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1130

**FILING VALUES:**
- **FORM TYPE:** SC TO-I/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-79663
- **FILM NUMBER:** 251556673

**BUSINESS ADDRESS:**
- **STREET 1:** 101 MUNSON STREET
- **CITY:** GREENFIELD
- **STATE:** MA
- **ZIP:** 01301
- **BUSINESS PHONE:** 866-270-7788

**MAIL ADDRESS:**
- **STREET 1:** 101 MUNSON STREET
- **CITY:** GREENFIELD
- **STATE:** MA
- **ZIP:** 01301

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** VIRTUS GLOBAL DIVIDEND & INCOME FUND INC.
- **DATE OF NAME CHANGE:** 20160929

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** VIRTUS GLOBAL DIVIDEND & INCOME FUND
- **DATE OF NAME CHANGE:** 20160929

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ZWEIG TOTAL RETURN FUND INC
- **DATE OF NAME CHANGE:** 19920703
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Virtus Total Return Fund Inc.
- **CENTRAL INDEX KEY:** 0000836412

**ORGANIZATION NAME:**
- **EIN:** 133474242
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1130

**FILING VALUES:**
- **FORM TYPE:** SC TO-I/A

**BUSINESS ADDRESS:**
- **STREET 1:** 101 MUNSON STREET
- **CITY:** GREENFIELD
- **STATE:** MA
- **ZIP:** 01301
- **BUSINESS PHONE:** 866-270-7788

**MAIL ADDRESS:**
- **STREET 1:** 101 MUNSON STREET
- **CITY:** GREENFIELD
- **STATE:** MA
- **ZIP:** 01301

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** VIRTUS GLOBAL DIVIDEND & INCOME FUND INC.
- **DATE OF NAME CHANGE:** 20160929

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** VIRTUS GLOBAL DIVIDEND & INCOME FUND
- **DATE OF NAME CHANGE:** 20160929

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ZWEIG TOTAL RETURN FUND INC
- **DATE OF NAME CHANGE:** 19920703

As filed with the Securities and Exchange Commission December 8, 2025

**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549** 

**SCHEDULE TO** 

Tender Offer Statement under Section 14(d)(1) or 13(e)(1)

of the Securities Exchange Act of 1934

**Virtus Total Return Fund Inc.** 

(Name of Subject Company (Issuer))

**Virtus Total Return Fund Inc.** 

(Name of Filing Persons (Offeror))

**Common Stock, Par Value $0.001 Per Share** 

(Title of Class of Securities)

**92835W107** 

(CUSIP Number of Class of Securities)

Kathryn Santoro

Vice President, Chief Legal Officer & Secretary for Registrant

One Financial Plaza

Hartford, CT 06103-2608

866-270-7788

(Name, address and telephone number of person authorized to receive notices and

communications on behalf of filing persons)

☐ Check the box if the filing relates solely to preliminary communications made before the commencement of a tender offer.

Check the appropriate boxes below to designate any transactions to which the statement relates:

☐ third party tender offer subject to Rule 14d-1.

☒ issuer tender offer subject to Rule 13e-4.

☐ going-private transaction subject to Rule 13e-3.

☐ amendment to Schedule 13D under Rule 13d-2.

Check the following box if the filing is a final amendment reporting the results of the tender offer: ☐

If applicable, check the appropriate box(es) below to designate the appropriate rule provision(s) relied upon:

☐ Rule 13e-4(i) (Cross-Border Issuer Tender Offer)

☐ Rule 14d-1(d) (Cross-Border Third-Party Tender Offer)

------

**INTRODUCTORY STATEMENT** 

This Amendment No. 3 amends the Tender Offer Statement on Schedule TO originally filed by Virtus Total Return Fund Inc. (the "Fund") with the Securities and Exchange Commission (the "Commission") on November 3, 2025.

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| | |
|:---|:---|
|  **Item 12.** | **Exhibits.** |
|  (a)(1)(i) | [Issuer tender offer statement dated November 3, 2025\*](http://www.sec.gov/Archives/edgar/data/836412/000119312525262287/d163686dex99a1i.htm) |
|  (a)(1)(ii) | [Form of letter of transmittal to holders of certificated shares\*](http://www.sec.gov/Archives/edgar/data/836412/000119312525262287/d163686dex99a1ii.htm) |
|  (a)(1)(iii) | [Form of letter of transmittal to holders of non-certificated shares\*](http://www.sec.gov/Archives/edgar/data/836412/000119312525262287/d163686dex99a1iii.htm) |
|  (a)(1)(iv) | [Form of letter to brokers, dealers, commercial banks, trust companies, and other nominees\*](http://www.sec.gov/Archives/edgar/data/836412/000119312525262287/d163686dex99a1i.htm) |
|  (a)(1)(v) | [Form of letter to clients of brokers, dealers, commercial banks, trust companies, and other nominees\*](http://www.sec.gov/Archives/edgar/data/836412/000119312525262287/d163686dex99a1v.htm) |
|  (a)(1)(vi) | [Form of letter to stockholders\*](http://www.sec.gov/Archives/edgar/data/836412/000119312525262287/d163686dex99a1vi.htm) |
|  (a)(1)(vii) | [Form of letter to stockholders holding certificated shares\*](http://www.sec.gov/Archives/edgar/data/836412/000119312525262287/d163686dex99a1vii.htm) |
|  (a)(2) |  |
|  (a)(3) | Not applicable |
|  (a)(4) | Not applicable |
|  (a)(5)(i) | [Text of press release dated and issued October 2, 2025\*](http://www.sec.gov/Archives/edgar/data/836412/000119312525262287/d163686dex99a1vii.htm) |
|  (a)(5)(ii) | [Notice of guaranteed delivery\*](http://www.sec.gov/Archives/edgar/data/836412/000119312525262287/d163686dex99a5ii.htm) |
|  (a)(5)(iii) | [Text of press release dated and issued November 3, 2025\*\*](http://www.sec.gov/Archives/edgar/data/836412/000119312525264776/d80859dex99a5iii.htm) |
|  (a)(5)(iv) | [Text of press release dated and issued December 4, 2025\*\*\*](http://www.sec.gov/Archives/edgar/data/836412/000119312525307887/d813600dex99a5iv.htm) |
|  (a)(5)(v) | [Text of press release dated and issued December 8, 2025 (filed herewith)](d68453dex99a5v.htm) |
| (b) |  |
|  (d)(1) | [Standstill agreement between Virtus Investment Advisers, Inc. and Bulldog Investors LLP dated March 6, 2024\*](http://www.sec.gov/Archives/edgar/data/836412/000119312525262287/d163686dex99d1.htm) |
|  (d)(2) | [Standstill agreement between Virtus Investment Advisers, Inc. and Yakira Partners L.P. dated March 6, 2024\*](http://www.sec.gov/Archives/edgar/data/836412/000119312525262287/d163686dex99d2.htm) |
| (g) |  |
| (h) |  |
| 107 | [Filing fee table\*](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/836412/000119312525262287/d163686dexfilingfees.htm) |
|  \* | Previously filed as an exhibit to the Schedule TO filed with the Commission on November 3, 2025 |
|  \*\* | Previously filed as an exhibit to the amended Schedule TO filed with the Commission on November 4, 2025 |
|  \*\*\* | Previously filed as an exhibit to the amended Schedule TO filed with the Commission on December 4, 2025 |

---

------

---

| | |
|:---|:---|
|  **Item 13.** | **Information Required by Schedule 13e-3** |
|  | Not applicable |

---

------

SIGNATURE

After due inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete, and correct.

---

| |
|:---|
| VIRTUS TOTAL RETURN FUND INC. |
| /s/ Kathryn L. Santoro |
| Name: Kathryn L. Santoro |
| Title: Secretary |

---

Dated: December 8, 2025

## Ex-99.(A)(5)(V)

---

| | |
|:---|:---|
| ![LOGO](g68453snap2.jpg) | **News Release** |

---

**Virtus Total Return Fund Inc. Announces** 

**Final Results of Tender Offer** 

**HARTFORD, CT, December 8, 2025** – <u>Virtus Total Return Fund Inc.</u> (NYSE: ZTR) (the "Fund") today announced final results of its previously announced tender offer to acquire up to 10% of its outstanding shares, which expired December 3, 2025 at 5:00 p.m. (Eastern).

The Fund accepted 5,554,844 shares, representing 10% of its outstanding shares, for payment on or about December 9, 2025. A total of 14,916,518 shares were properly tendered. Therefore, on a prorated basis, approximately 37.25% of the shares tendered by each tendering stockholder have been accepted for payment.

The purchase price of the accepted shares is 98% of the Fund's net asset value per share determined as the close of regular trading session of the New York Stock Exchange on December 3, 2025, which is equal to $6.9874 per share.

**About the Fund** 

<u>Virtus Total Return Fund Inc.</u> is a diversified closed-end fund whose investment objective is capital appreciation, with income as a secondary objective. Virtus Investment Advisers, LLC is the investment adviser and <u>Duff & Phelps Investment Management Co.</u> and <u>Newfleet Asset Management</u> are the subadvisers to the Fund. For more information about the Fund, contact shareholder services at (866) 270-7788, by email at <u>closedendfunds@virtus.com</u>, or through the <u>Closed-End Funds</u> section of <u>virtus.com</u>.

**Fund Risks** 

An investment in a fund is subject to risk, including the risk of possible loss of principal. A fund's shares may be worth less upon their sale than what an investor paid for them. Shares of closed-end funds may trade at a premium or discount to their NAV. For more information about the Fund's investment objective and risks, please see the Fund's annual report. A copy of the Fund's most recent annual report may be obtained free of charge by contacting "Shareholder Services" as set forth at the bottom of this press release.

\# \# \#

**<u>For Further Information:</u>** 

Shareholder Services

(866) 270-7788

<u>closedendfunds@virtus.com</u>