Simpson Thacher represented the underwriters, led by UBS Securities, LLC, Morgan Stanley & Co. LLC, Wells Fargo Securities, LLC and RBC Capital Markets, LLC, in connection with the initial public offering of Calamos Long/Short Equity & Dynamic Income Trust (the "Fund"). The offering raised approximately $365 million, which would increase to approximately $416.9 million assuming full exercise of the over-allotment option.
The Fund is a newly organized, diversified, closed-end management investment company that is listed on the NASDAQ under the symbol "CPZ." The Fund’s investment objective is to seek current income and risk-managed capital appreciation. The Fund will invest, under normal circumstances, at least 80% of its managed assets in a globally diversified portfolio comprised of equity securities, as well as long and short equity positions managed pursuant to a long/short equity strategy. The Fund may invest up to 20% of its managed assets opportunistically in globally diversified income-producing securities. Calamos Advisors LLC is the Fund’s investment adviser.
The Simpson Thacher team for the transaction included David Blass, Ryan Brizek and Adrienne Jang (Registered Funds); Jonathan Cantor and Morgan Otway (Tax); and Jennie Getsin (FINRA and Blue Sky).