Assertion: fund's asset value | /r/HasProperty | navof $25
Facets:
Source sentences:
text: Your example presents a Fund with 1,000,000 common shares, each with a net asset value ("NAV") of $25, that can issue a maximum of 1,000 LPP, each with a liquidation value of $25,000, consistent with the asset coverage requirement applicable to preferred stock in section 18(a)(2)(A) of the 1940 Act6.