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Simpson Thacher represented the underwriters, led by Wells Fargo Securities, UBS Investment Bank and Ameriprise Financial Services, Inc., in connection with the initial public offering of Seligman Premium Technology Growth Fund, Inc. (the "Fund"). The offering raised $299 million, assuming full exercise of the underwriters' option to purchase additional shares.

The Fund is a newly organized, non-diversified closed-end management investment company which trades on the New York Stock Exchange under the symbol “STK”.  The Fund’s investment objectives are to seek growth of capital and current income through a portfolio of equity securities of technology and technology-related companies and writing call options on the NASDAQ 100 Index.  The Fund’s investment manager is RiverSource Investments, LLC.  The offering was the first equity oriented closed-end fund offering in several years.

The Simpson Thacher team for the transaction included Sarah Cogan, David Wohl, Celine Hwang and Rafael Vasquez (Capital Markets); Jonathan Cantor and Rian Balfour (Tax); Jennie Getsin (Blue Sky and FINRA); and Joyce Xu and Yu Wang (Derivatives). Paralegal Andre Sim provided valuable assistance.