Virtus Total Return Fund Announces Second Conditional Tender Offer to Repurchase 10% of Outstanding Shares.

Virtus Total Return Fund has announced its second conditional tender offer to acquire up to 10% of its outstanding shares. The offer was triggered by an average trading discount exceeding 10% during a specified period. The tender offer period is expected to start on November 3, 2025, and expire on December 3, 2025. Shareholders can obtain more information from the Fund's offering materials, which will be distributed at a later date.

Virtus Total Return Fund Inc. (NYSE: ZTR) has announced a second conditional tender offer to acquire up to 10% of its outstanding shares. The offer was triggered when the average trading discount of the Fund's shares exceeded 10% during the period from April 1, 2025, through September 26, 2025 Virtus Total Return Fund Inc. Announces Second Conditional Tender Offer^[1]. The average trading discount during this period was 11.41% Virtus Total Return Fund Inc. Announces Second Conditional Tender Offer^[1].

The tender offer period is expected to commence on November 3, 2025, and expire on December 3, 2025, unless extended. Under the terms of the offer, the Fund will repurchase shares at a price equal to 98% of its net asset value (net of expenses related to the Tender Offer) as of the close of regular trading on the expiration date Virtus Total Return Fund Inc. Announces Second Conditional Tender Offer^[1].

Shareholders can obtain further information about the tender offer from the Fund's offering materials, which will be distributed at a later date. The materials will be available on the Fund's website and through the SEC's website at sec.gov Virtus Total Return Fund Inc. Announces Second Conditional Tender Offer^[1].

The Fund, a diversified closed-end fund with an investment objective of capital appreciation and income as a secondary objective, has not yet commenced the tender offer described in this release. The offer will only be made pursuant to a Tender Offer statement on Schedule TO, which will include an offer to purchase, a related letter of transmittal, and other documents filed with the SEC Virtus Total Return Fund Inc. Announces Second Conditional Tender Offer^[1].

Investors are advised that investing in a fund involves risk, including the risk of possible loss of principal. Shares of closed-end funds may trade at a premium or discount to their net asset value (NAV). For more information about the Fund’s investment objective and risks, please see the Fund’s annual report, which can be obtained free of charge by contacting “Shareholder Services” as set forth at the bottom of this press release Virtus Total Return Fund Inc. Announces Second Conditional Tender Offer^[1].

References
Virtus Total Return Fund Inc. Announces Second Conditional Tender Offer^[1] https://www.stocktitan.net/news/ZTR/virtus-total-return-fund-inc-announces-second-conditional-tender-vmrb0dwl88u5.html