0001471420falseN-2/ARepresents the maximum commission with respect to the Common Shares being sold in this offering that the Fund may pay to the Distributor in connection with sales of Common Shares under this Prospectus. This is the only sales load to be paid in connection with this offering. There is no guarantee that there will be any sales of Common Shares under this Prospectus. There are no service or brokerage charges to participants in the Fund’s Dividend Investment Plan; however, the Fund reserves the right to amend the plan to include a service charge payable to the Fund by the participants. The Fund reserves the right to amend this plan to provide for payment of brokerage fees by the plan participants in the event the plan is changed to provide for open market purchases of Fund Common Shares on behalf of plan participants. You will pay brokerage charges if you direct your broker or the plan agent to sell your Common Shares that you acquired pursuant to this plan. The expenses of administering the Fund’s Dividend Investment Plan and Stock Repurchase Program are included in “Other Expenses” of the Fund. You may also pay a pro rata share of brokerage commissions incurred in connection with open-market purchases pursuant to the Fund’s Stock Repurchase Program. Columbia Management will pay the expenses of the offering (other than the applicable commissions); therefore, offering expenses are not included in the Fees and Expenses of the Fund. The Fund’s management fee is 1.06% of the Fund’s average daily Managed Assets (which means the net asset value of Fund’s outstanding Common Shares plus the liquidation preference of any issued and outstanding preferred stock of the Fund and the principal amount of any borrowing used for leverage). The management fee rate noted in the table reflects the rate paid the Common Stockholders as a percentage of the Fund’s net assets attributable to Common Shares. As of the date of this Prospectus, the Fund has not issued securities other than Common Shares. “Total Annual Expenses” include acquired fund fees and expenses (expenses the Fund incurs indirectly through its investments in other investment companies) and may be higher than “Total gross expenses” shown in the Financial Highlights section of this prospectus because “Total gross expenses” does not include acquired fund fees and expenses. 0001471420 2024-10-30 2024-10-30 0001471420 ck0001471420:CommonSharesMember 2024-10-30 2024-10-30 0001471420 ck0001471420:CounterpartyRiskMember 2024-10-30 2024-10-30 0001471420 ck0001471420:SecondaryMarketForTheCommonSharesRiskMember 2024-10-30 2024-10-30 0001471420 ck0001471420:SectorRiskMember 2024-10-30 2024-10-30 0001471420 ck0001471420:CommunicationServicesSectorAndInformationTechnologySectorMember 2024-10-30 2024-10-30 0001471420 ck0001471420:SemiconductorAndSemiconductorEquipmentIndustryRiskMember 2024-10-30 2024-10-30 0001471420 ck0001471420:TransactionsInDerivativesMember 2024-10-30 2024-10-30 0001471420 ck0001471420:ActiveManagementRiskMember 2024-10-30 2024-10-30 0001471420 us-gaap:InterestRateRiskMember 2024-10-30 2024-10-30 0001471420 ck0001471420:IssuerRiskMember 2024-10-30 2024-10-30 0001471420 ck0001471420:MarketRiskMember 2024-10-30 2024-10-30 0001471420 ck0001471420:MarketTradingDiscountRiskMember 2024-10-30 2024-10-30 0001471420 ck0001471420:NonDiversifiedFundRiskMember 2024-10-30 2024-10-30 0001471420 ck0001471420:OfferingRiskMember 2024-10-30 2024-10-30 0001471420 ck0001471420:CreditRisksMember 2024-10-30 2024-10-30 0001471420 ck0001471420:DerivativesRiskMember 2024-10-30 2024-10-30 0001471420 ck0001471420:DerivativesRiskOptionsRiskMember 2024-10-30 2024-10-30 0001471420 ck0001471420:ForeignSecuritiesRiskMember 2024-10-30 2024-10-30 0001471420 dei:BusinessContactMember 2024-10-30 2024-10-30 0001471420 ck0001471420:CommonSharesMember 2022-01-01 2022-03-31 0001471420 ck0001471420:CommonSharesMember 2022-04-01 2022-06-30 0001471420 ck0001471420:CommonSharesMember 2022-07-01 2022-09-30 0001471420 ck0001471420:CommonSharesMember 2022-10-01 2022-12-31 0001471420 ck0001471420:CommonSharesMember 2023-01-01 2023-03-31 0001471420 ck0001471420:CommonSharesMember 2023-04-01 2023-06-30 0001471420 ck0001471420:CommonSharesMember 2023-07-01 2023-09-30 0001471420 ck0001471420:CommonSharesMember 2023-10-01 2023-12-31 0001471420 ck0001471420:CommonSharesMember 2024-01-01 2024-03-31 0001471420 ck0001471420:CommonSharesMember 2024-04-01 2024-06-30 0001471420 ck0001471420:CommonSharesMember 2024-06-30 0001471420 ck0001471420:CommonSharesMember 2024-06-30 2024-06-30 xbrli:pure xbrli:shares iso4217:USD iso4217:USD xbrli:shares
As filed with the Securities and Exchange Commission on October 30, 2024.
Registration Nos.
333-280485

811-22328
UNITED STATES

SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
Form
N-2

REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
☒
Pre-Effective Amendment No.
1
☒
Post-Effective Amendment No. ___
☐
and/or
REGISTRATION STATEMENT
UNDER

THE INVESTMENT COMPANY ACT OF 1940
☒
Amendment No.
8
☒
(Check Appropriate Box or Boxes)
COLUMBIA SELIGMAN PREMIUM TECHNOLOGY GROWTH FUND, INC.
(Exact Name of Registrant as Specified in Charter)
290 Congress Street
,
Boston
,
Massachusetts
02110

(Address of Principal Executive Offices) (Zip Code)
Registrant’s Telephone Number, Including Area Code: (
866
)
666-1532
 
Daniel J. Beckman
c/o Columbia Management Investment Advisers
, LLC
290 Congress Street
Boston, Massachusetts 02110
Ryan C. Larrenaga, Esq.
c/o Columbia Management Investment Advisers, LLC
290 Congress Street
Boston, Massachusetts 02110
(Name and Address of Agents for Service)
The Registrant hereby amends this Registration Statement on such date or dates as may be necessary to delay its effective date until the Registrant shall file a further amendment which specifically states
this Registration Statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act of 1933, as amended or until the Registration Statement shall become effective on such
dates as the Commission, acting pursuant to said Section 8(a), may determine.
Approximate Date of Proposed Public Offering: As soon as practicable after the effective date of this Registration Statement
☐
  
Check box if the only securities being registered on this Form are being offered pursuant to dividend or interest
reinvestment plans.
☒  
Check box if any securities being registered on this Form will be offered on a delayed or continuous basis in
reliance on Rule 415 under the Securities Act of 1933 (“Securities Act”), other than securities offered in connection with a
dividend reinvestment plan.
☒  
Check box if this Form is a registration statement pursuant to General Instruction A.2 or a post-effective
amendment thereto.
☐
  
Check box if this Form is a registration statement pursuant to General Instruction B or a post-effective amendment
thereto that will become effective upon filing with the Commission pursuant to Rule 462(e) under the Securities Act.
☐
  
Check box if this Form is a post-effective amendment to a registration statement filed pursuant to General
Instruction B to register additional securities or additional classes of securities pursuant to Rule 413(b) under the
Securities Act
It is proposed that this filing will become effective (check appropriate box)
☐
  
when declared effective pursuant to section 8(c)
The following boxes should only be included and completed if the registrant is making this filing in accordance with Rule 486
under the Securities Act.
☐
  
immediately upon filing pursuant to paragraph (b)
☐
  
on (date) pursuant to paragraph (b)
☐
  
60 days after filing pursuant to paragraph (a)
☐
  
on (date) pursuant to paragraph (a)
If appropriate, check the following box:
☐
  
This [post-effective] amendment designates a new effective date for a previously filed [post-effective
amendment][registration statement].
☐
  
This Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act
and the Securities Act registration number of the earlier effective registration statement for the same offering is _____.
☐
  
This Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, and the Securities
Act registration statement number of the earlier effective registration statement for the same offering is: ______.
☐
  
This Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, and the Securities
Act registration statement number of the earlier effective registration statement for the same offering is: ______.
Check each box that appropriately characterizes the Registrant:
☒  
Registered Closed-End Fund (closed-end company that is registered under the Investment Company Act of 1940
(“Investment Company Act”)).
☐
  
Business Development Company (closed-end company that intends or has elected to be regulated as a business
development company under the Investment Company Act).
☐
  
Interval Fund (Registered Closed-End Fund or a Business Development Company that makes periodic repurchase
offers under Rule 23c-3 under the Investment Company Act).
☒  
A.2 Qualified (qualified to register securities pursuant to General Instruction A.2 of this Form).
☐
  
Well-Known Seasoned Issuer (as defined by Rule 405 under the Securities Act).
☐
  
Emerging Growth Company (as defined by Rule 12b-2 under the Securities Exchange Act of 1934 (“Exchange
Act”).
☐
  
If an Emerging Growth Company, indicate by check mark if the registrant has elected not to use the extended
transition period for complying with any new or revised financial accounting standards provided pursuant to Section
7(a)(2)(B) of Securities Act.
☐
  
New Registrant (registered or regulated under the Investment Company Act for less than 12 calendar months
preceding this filing).
 

 
Prospectus
November
15
, 2024
 
The information in this Prospectus is not complete and may be changed. We may not sell these securities until
the registration statement filed with the Securities and Exchange Commission is effective. This Prospectus is not
an offer to sell these securities and it is not soliciting an offer to buy these securities in any state where the offer
or sale is not permitted.
SUBJECT TO COMPLETION | PRELIMINARY PROSPECTUS | DATED AS OF
October 30
, 2024
UP TO 8,000,000 COMMON SHARES
Columbia Seligman Premium Technology
Growth Fund, Inc.
COMMON SHARES
 
NYSE: STK
Columbia Seligman Premium Technology Growth Fund, Inc. (the Fund) is a publicly traded non-diversified, closed-end
management investment company, which commenced operations on November 30, 2009. The Fund seeks growth of
capital and current income. The Fund’s investment manager, Columbia Management Investment Advisers, LLC (the
Investment Manager or Columbia Management), a wholly owned subsidiary of Ameriprise Financial, Inc. (Ameriprise
Financial), has managed the Fund since the Fund’s inception. Under normal market conditions, the Fund’s investment
program consists primarily of investing in a portfolio of
common stock
of technology and technology-related companies
that seeks to exceed the total return, before fees and expenses, of the S&P North America Technology Sector Index
®
and writing call options on the Nasdaq 100 Index
®
, an unmanaged index
of the 100 largest
non-financial domestic and
international companies listed on the Nasdaq Stock Market
based on market capitalization (the Nasdaq 100)
, or
an
exchange-traded fund equivalent
on a month-to-month basis, with an aggregate notional amount typically ranging from
0% to 90% of the underlying value of the Fund’s holdings of common stock. The Fund expects to generate current
income from premiums received from writing call options on the Nasdaq 100. No assurance can be given that the Fund
will achieve its investment objectives.
The Fund has entered into a Distribution Agreement, dated June 20, 2024 (the Distribution Agreement), between the
Fund and ALPS Distributors, Inc (the Distributor) relating to the Fund’s shares of common stock, par value $0.01 per
share (Common Shares), offered by this Prospectus, as may be supplemented from time to time. In accordance with
the terms of the Distribution Agreement, the Fund may offer and sell up to 8,000,000 Common Shares from time to
time through the Distributor as agent for the Fund for the offer and sale of Common Shares.
The Fund may offer Common Shares (1) directly to one or more purchasers, including existing Stockholders in a rights
offering, (2) through agents; (3) through underwriters; (4) through dealers; or (5) pursuant to the Dividend
Reinvestment and Stock Purchase Plan. The Distributor may enter into a sub-placement agent agreement (the Sub-Placement
Agent Agreement) with one or more selected dealers (the Sub-Placement Agent). In accordance with the
terms of the Sub-Placement Agent Agreement, the Fund may offer and sell Common Shares from time to time through
the Sub-Placement Agent as sub-placement agent for the offer and sale of Common Shares. The Fund will compensate
the Distributor with respect to sales of Common Shares at a commission rate of 1.00% of the gross proceeds of the
sale of Common Shares. Out of this commission, the Distributor will compensate the Sub-Placement Agent at a rate of
up to 0.80% of the gross sales proceeds of the sale of the Common Shares sold by the Sub-Placement Agent. In
connection with the sale of the Common Shares on behalf of the Fund, the Distributor may be deemed to be an
“underwriter” within the meaning of the Securities Act of 1933 (the 1933 Act) and the compensation of the Distributor
may be deemed to be underwriting commissions or discounts.
 
Sales of Common Shares, if any, under this Prospectus may be made in negotiated transactions or by any method
permitted by law deemed to be an “at the market offering” as defined in Rule 415(a)(4) under the 1933 Act.
The Fund’s charter provides that the Fund may issue up to 1,000,000,000 Common Shares. The Fund’s currently
outstanding Common Shares are, and the Common Shares offered by this Prospectus will be, listed on the New York
Stock Exchange (NYSE) under the symbol “STK.”
Common Shares offered under this Prospectus will be offered at
prevailing market prices on the NYSE. See the
Summary of the Fund – The Fund Offering and Plan of Distribution of
Common Shares
.
As of
September 30
, 2024, the net asset value (NAV) per share of the Fund’s Common Shares was
$
32.63
and the last reported sale price for the Fund’s Common Shares on the NYSE was $
33.49
per share,
representing a premium to net asset value of
2.64
%. To the extent that the market price per Common Share, less any
distributing commission or discount, is less than the then current NAV per Common Share from time to time, the Fund
will instruct the Distributor not to make any sales at such time.
This Prospectus, as may be supplemented from time to time, sets forth the information that a prospective investor
should know about the Fund before investing. Investors are advised to read this Prospectus carefully and to retain it
for future reference. Additional information about the Fund, including a Statement of Additional Information (SAI) dated
November 15, 2024, also as supplemented from time to time, has been filed with the Securities and Exchange
Commission (the SEC). This and the SAI are part of a registration statement filed with the SEC. The Fund’s SAI and
most recent annual and semi-annual reports and future reports to stockholders are available upon request and without
charge by writing to Equiniti Trust Company, LLC, formerly, known as American Stock Transfer & Trust Company, LLC
(the Transfer Agent), at 48 Wall Street, Floor 23, New York, NY 10005, or by calling 866.666.1532. Investors may also
write or call the Transfer Agent in order to request other available information or to make stockholder inquiries. The SAI
is incorporated herein by reference in its entirety. The Fund’s annual report, which contains financial statements of the
Fund for the year ended December 31, 2023, and June 30, 2024 semi-annual report, are incorporated by reference
into the SAI. The SAI and the Fund’s most recent annual and semi-annual reports are also available at
columbiathreadneedleus.com/investor. Additional information about the Fund has been filed with the SEC and is
available upon written or oral request and without charge. The SEC maintains a website (www.sec.gov) that contains
the Prospectus, SAI, material incorporated by reference, and other information filed electronically by the Fund. You may
also obtain these documents, after paying a duplication fee, by electronic request at the following email address:
publicinfo@sec.gov.
Common Shares do not represent a deposit or obligation of, and are not guaranteed or endorsed by, any bank or other
insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation, the Federal
Reserve Board or any other government agency.
Investing in shares involves certain risks. Information on the risks of investing in the Fund can be found below
within the “More Information About the Fund - Principal Risks” section of this Prospectus.
Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of
these securities or determined this prospectus to be accurate or adequate. Any representation to the contrary is a
criminal offense.
Table of Contents
You should rely only on the information contained or incorporated by reference in this Prospectus in making your
investment decisions. The Fund has not authorized any other person to provide you with different or inconsistent
information. If anyone provides you with different or inconsistent information, you should not rely on it. The Fund
takes no responsibility for, and can provide no assurance as to the reliability of, any other information that others
may give you. This Prospectus does not constitute an offer to sell or solicitation of an offer to buy any securities in
any jurisdiction where the offer or sale is not permitted. The information appearing in this Prospectus is accurate only
as of the date on its front cover. The Fund’s business, financial condition and prospects may have changed since
such date. The Fund will advise investors of any material changes to the extent required by applicable law.
 
 
3
3
4
10
13
14
15
16
17
19
19
19
20
26
29
29
30
30
32
32
33
37
39
42
42
42
42
43
43
44
2
Columbia Seligman Premium Technology
Growth
Fund, Inc.
Summary of the Fund
Fees and Expenses of the Fund
This table describes the fees and expenses that you may pay if you buy, hold and sell Common Shares. The following
table should not be considered a representation of the Fund’s future expenses relating to Common Shares. Actual
expenses may be greater or less than those shown below.
You may pay other fees, such as brokerage commissions
and other fees to financial intermediaries, which are not reflected in the tables and examples below.
 
Stockholder Transaction Expenses
Sales Load (as a percentage of offering price)
(a)
1.00
%
Offering Expenses
None
(b)
Dividend Investment Plan and Stock Repurchase Program Fees
None
(c)
 
Annual Expenses (as a percentage of net assets attributable to Common Shares)
 
 
 
 
 
 
 
 
 
 
 
Management fees
(d)
1.06
%
Other expenses
0.07
%
Total Annual Expenses
(e)
1.13
%
(a)
Represents the maximum commission with respect to the Common Shares being sold
in this offering that the Fund may pay to the Distributor
in connection with sales of Common Shares
under this Prospectus.
This is the only sales load to be paid in connection with this offering.
There
is no guarantee that there will be any sales of Common Shares under this Prospectus.
(b)
Columbia Management will pay the expenses of the
offering
(other than the applicable commissions); therefore,
offering
expenses are not
included in the
Fees and Expenses of the Fund
.
(c)
There are no service or brokerage charges to participants in the Fund’s Dividend In
ve
stment Plan; however, the Fund reserves the right to
amend the plan to include a service charge payable to the Fund by the participants. The Fund reserves the right to amend this plan to provide
for payment of brokerage fees by the plan participants in the event the plan is changed to provide for open market purchases of Fund Common
Shares on behalf of plan participants. You will pay brokerage charges if you direct your broker or the plan agent to sell your Common Shares
that you acquired pursuant to this plan. The expenses of administering the Fund’s Dividend Investment Plan and Stock Repurchase Program
are included in “Other Expenses” of the Fund. You may also pay a pro rata share of brokerage commissions incurred in connection with open-
market purchases pursuant to the Fund’s Stock Repurchase Program.
(d)
The Fund’s management fee is 1.06% of the Fund’s average daily Managed Assets (which means the net asset value of Fund’s outstanding
Common Shares plus the liquidation preference of any issued and outstanding preferred stock of the Fund and the principal amount of any
borrowing used for leverage). The management fee rate noted in the table reflects the rate paid the Common Stockholders as a percentage of
the Fund’s net assets attributable to Common Shares. As of the date of this Prospectus, the Fund has not issued securities other than
Common Shares.
(e)
“Total Annual Expenses” include acquired fund fees and expenses (expenses the Fund incurs indirectly through its investments in other
investment companies) and may be higher than “Total gross expenses” shown in the
Financial Highlights
section of this prospectus because
“Total gross expenses” does not include acquired fund fees and expenses.
 
Example
The following example is intended to help you compare the cost of investing in the Fund with the cost of investing in
other funds
(including an assumed total sales load or commission of 1.00%)
. The example illustrates the
hypothetical expenses that you would incur over the time periods indicated, and assumes that:
■
you invest $1,000 in the Fund for the periods indicated,
■
all dividends and other distributions are reinvested at NAV per Common Share,
■
the market price at the time of investment was equal to the NAV per Common Share,
■
your investment has a 5% return each year, and
■
the Fund’s total annual operating expenses remain the same as shown in the
Annual Fund Operating Expenses
table above.
Although your actual costs may be higher or lower, based on the assumptions listed above, your costs would be:
 
 
1 year
3 years
5 years
10 years
Common Shares
$
21
$
46
$
72
$
146
3
Prospectus 2024
Columbia Seligman Premium Technology Growth Fund, Inc.
Summary of the Fund
(continued)
The purpose of the tables above is to assist you in understanding the various costs and expenses you will bear
directly or indirectly. The example should not be considered a representation of future expenses.  While the example
assumes reinvestment of all dividends and distributions at NAV, participants in the Fund’s Dividend Investment Plan
may receive Common Shares purchased or issued at a price or value different from NAV. The example does not
include estimated offering costs of Common Shares offered by this Prospectus, which, if not for being paid by the
Investment Manager, would cause the expenses shown in the example to increase. For more complete descriptions
of the various costs and expenses, see
More Information About the Fund – Management of the Fund
.
Prospectus Summary
The following is
a summary of
more detailed information
that can be found in the More Information About the Fund
section of this Prospectus unless otherwise noted
.
The Fund.
Columbia Seligman Premium Technology Growth Fund, Inc. (the Fund) is a publicly traded non-diversified,
closed-end management investment company, which commenced operations on November 30, 2009.
The Fund’s Investment Objective.
 The Fund seeks growth of capital and current income. The Fund’s investment
objective is non-fundamental and may be changed by the Board without approval of the Fund’s stockholders. No
assurance can be given that the Fund will achieve its investment objective.
The Fund’s Investment Strategy.
Under normal market conditions, the Fund
invests at least 80% of its Managed
Assets in a portfolio of equity securities of technology and technology-related companies that the Investment
Manager believes offer attractive opportunities for capital appreciation. Under normal market conditions, the Fund
’s
investment program consists primarily of investing in a portfolio of
common stocks
of technology and technology-related
companies that seeks to exceed the total return, before fees and expenses, of the S&P North American
Technology Sector Index
®
 and writing call options on the Nasdaq 100 Index
®
, an unmanaged index
of the 100 largest
non-financial domestic and international companies listed on the Nasdaq Stock Market
based on market
capitalization
, or
an
exchange-traded fund equivalent (the Nasdaq 100) on a month-to-month basis, with an aggregate
notional amount typically ranging from 0% to 90% of the underlying value of the Fund’s holdings of common stock.
The Fund expects to generate current income from premiums received from writing call options on the Nasdaq 100.
The Fund concentrates its investments in technology and technology-related stocks. Technology and technology-related
companies in which the Fund invests are companies operating in the information technology and
communications services sectors, as well as other related industries, applying a global industry classification
standard, as it may be amended from time to time, to determine industry/sector classifications. Companies in
related industries may also include companies operating in the consumer discretionary and healthcare sectors,
particularly those that are principally engaged in offering or developing products, processes, or services that benefit
significantly from technological advances and improvements. By way of example, technology and technology-related
companies may include semiconductor, semiconductor equipment, technology hardware, storage and peripherals,
software, communication equipment and services, electronic equipment and instruments, internet services and
infrastructure, media, health care equipment and supplies, and medical technology companies. The Fund tends to
focus its technology and technology-related investments on companies in the information technology sector (66.6% of
Fund net assets as of June 30, 2024) and the semiconductor and semiconductor equipment industry (31.9% of Fund
net assets as of June 30, 2024). The Fund may invest in companies of any size, including small-, mid-, and large-cap
companies, as well as in foreign companies and debt securities. The Fund may also, subject to the above-mentioned
aggregate notional amount of 90% of the underlying value of the Fund’s holdings of common stock, buy or write other
call and put options on securities, indices, ETFs and market baskets of securities to generate additional income or
return or to provide the portfolio with downside protection.
Further information about the Fund’s investment program
can be found below in the
More Information About the Fund – Investment Objective and Policies
section
of this
Prospectus.
The Fund’s Investment Manager.
The Fund entered into a Management Agreement with Columbia Management
Investment Advisers, LLC (the Investment Manager), a wholly owned subsidiary of Ameriprise Financial, Inc.
(Ameriprise Financial). The Investment Manager has managed the Fund since Fund inception in 2009. Under the
Management Agreement,
subject to oversight by the Board, the
Investment Manager
manages the day-to-
day
operations of the Fund
,
determining what securities and other investments the Fund should buy or sell and executing
Prospectus 2024
4
Columbia Seligman Premium Technology Growth Fund, Inc.
Summary of the Fund
(continued)
portfolio transactions. In addition, the Investment Manager provides the Fund with
administrative and accounting
services.
Further information about the Fund’s Investment Manager can be found below in the
More Information
About the Fund – Management of the Fund
section of this Prospectus.
Distributor.
ALPS Distributors, Inc., serves as the Fund’s distributor in connection with the offer and sale of Common
Shares described below under
The Fund Offering
, and is located at 1290 Broadway, Suite 1000, Denver, CO 80203.
Exchange Listing.
 The Fund’s currently outstanding Common Shares are, and the Common Shares offered by this
Prospectus will be, listed on the New York Stock Exchange (NYSE) under the symbol “STK.” As of
September 30
,
2024, the NAV per share of the Fund’s Common Shares was $
32.63
and the last reported sale price for the Fund’s
Common Shares on the NYSE was $
33.49
per share, representing a premium to net asset value of
2.64
%. To the
extent that the market price per Common Share, less any distributing commission or discount, is less than the then
current NAV per Common Share on any given day, the Fund will instruct the Distributor not to make any sales on such
day.
The Fund Offering
and Plan of Distribution of Common Shares
.
 The Fund has entered into a Distribution Agreement
between the Fund and the Distributor relating to the Common Shares offered by this Prospectus, as may be
supplemented from time to time. In accordance with the terms of the Distribution Agreement, the Fund may offer and
sell up to 8,000,000 Common Shares from time to time through the Distributor as agent for the Fund for the offer
and sale of Common Shares.
The Distributor may enter into sub-placement agent agreements with one or more selected dealers. The Distributor
has entered into a Sub-Placement Agent Agreement with the Sub-Placement Agent relating to the Common Shares
offered by this Prospectus. In accordance with the terms of the Sub-Placement Agent Agreement, the Fund may offer
and sell Common Shares from time to time through the Sub-Placement Agent as sub-placement agent for the offer
and sale of Common Shares. The Fund will compensate the Distributor with respect to sales of Common Shares at a
commission rate of 1.00% of the gross proceeds of the sale of Common Shares. Out of this commission, the
Distributor will compensate the Sub-Placement Agent at a rate of up to 0.80% of the gross sales proceeds of the sale
of the Common Shares sold by the Sub-Placement Agent. In connection with the sale of the Common Shares on
behalf of the Fund, the Distributor may be deemed to be an “underwriter” within the meaning of the 1933 Act and the
compensation of the Distributor may be deemed to be underwriting commissions or discounts.
Sales of Common Shares, if any, under this Prospectus may be made in negotiated transactions or by any method
permitted by law deemed to be an “at the market offering” as defined in Rule 415(a)(4) under the 1933 Act.
Common Shares may not be sold through agents, underwriters or dealers without delivery or deemed delivery of this
Prospectus describing the method and terms of the offering of Common Shares. Under the Investment Company Act
of 1940 (the 1940 Act), the Fund may not sell Common Shares at a price below the then current NAV per Common
Share, after taking into account any commission or discount.
The Fund may offer
Common Shares
(
1
)
directly to one or more purchasers, including existing Stockholders in a
rights offering, (2) through agents; (3) through underwriters; (4) through dealers; or (5) pursuant to the Dividend
Reinvestment and Stock Purchase Plan. Common Shares have traded both at a premium and a discount to NAV. The
Fund cannot predict whether Common Shares will trade in the future at a premium or discount to NAV. The provisions
of the 1940 Act applicable to closed-end funds require that the public offering price of common shares (less any
underwriting commissions and discounts) must equal or exceed the NAV per share of the fund’s common stock. The
Fund’s issuance of Common Shares may have an adverse effect on prices in the secondary market for Common
Shares by increasing the number of Common Shares available, which may put downward pressure on the market
price for Common Shares. Shares of common stock of closed-end investment companies frequently trade at a
discount to their NAV, which may increase investors’ risk of loss.
The Fund’s NAV will vary and may be affected by numerous factors, including changes in stock prices, option
premiums, and other factors. An investment in the Fund may not be appropriate for all investors. There is no
assurance that the Fund will achieve its investment objective.
Additional information about the Fund offering can be
found in the
Plan of Distribution of Common Shares
section.
5
Prospectus 2024
Columbia Seligman Premium Technology Growth Fund, Inc.
Summary of the Fund
(continued)
Use of Proceeds.
The Fund intends to invest the net proceeds of an offering of Common Shares in accordance with
its investment objective and policies as appropriate investment opportunities are identified, depending on market
conditions and the availability of appropriate securities. Pending investment, the proceeds may be held in short-term
securities, including, but not limited to, obligations of the U.S. Government, its agencies or instrumentalities, highly
rated money market instruments or mutual funds that invest in such instruments. As a result of this short-term
investment of the proceeds, a lower return may be realized. See
Use of Proceeds
below in this Prospectus for further
information.
Distributions.
The Fund adopted a managed distribution
policy (
the
Distribution Policy
)
that relies upon an exemptive
order obtained from
the
SEC permitting the Fund to distribute long-
term capital gains more often than once in any one
taxable year.
The Fund paid its first dividend under the Fund’
s managed distribution policy in November 2010
. Under
the
Distribution Policy, the Fund intends to make quarterly distributions to Common Stockholders
,
as authorized by
the Board, from legally-available funds,
at a rate that reflects the past and projected performance of the Fund. The
Fund
’s Board of Directors
(the Board) may modify or terminate the Distribution Policy at any time; any such change or
termination may have an adverse effect on the market price for Common Shares. The Fund
expects to receive all or
some of its current income and gains from the following sources: (i) dividends received by the Fund that are paid on
the equity and equity-related securities in its portfolio; and (ii) capital gains (short-term and long-term) from option
premiums and the sale of portfolio securities. It is possible that the Fund’s distributions will at times exceed the
earnings and profits of the Fund and therefore all or a portion of such distributions may constitute a return of capital.
A return of capital is a return of a portion of an investor’s original investment. A return of capital is not taxable, but it
reduces a Stockholder’s tax basis in his or her shares, thus reducing any loss or increasing any gain on a
subsequent taxable disposition by the Stockholder of his or her shares.
Capital returns to
stockholders through
distributions
will be distributed after
the payment
of
Fund fees
and
expenses
.
See
Capital Stock
–
Distributions
and
Taxes –
Distributions
for more information
.
Dividend Investment Plan.
The Fund, in connection with its Dividend Investment Plan (the Plan), issues Common
Shares, as needed, to satisfy the Plan requirements. Pursuant to the Plan, unless a Common Stockholder elects
otherwise, all cash dividends, capital gains distributions, and other distributions are automatically reinvested in
additional Common Shares.
Additional information about the Plan can be found in the
Dividend Investment Plan and
Stock Repurchase Program
section.
Stock Repurchase Program.
The Fund
may pay distributions to Common Stockholders that are
,
in whole or in part,
attributable to distributions received by the Fund from its underlying portfolio investments (Portfolio Company
Distributions). The Fund,
under its stock repurchase program, currently intends to make open market purchases of its
Common Shares from time to time when the Common Shares are trading at a discount to
NAV per share
, in an
amount approximately sufficient to offset the growth in the number of shares of Common Shares issued as a result
of
Common Stockholders reinvesting Fund distributions,
but only with respect to any portion of the Fund distribution
constituting Portfolio Company Distributions
less Fund expenses.
Additional information about the Fund’s stock
repurchase program can be found in the
Dividend Investment Plan and Stock Repurchase Program
section.
Voting Provisions.
The Fund’s charter provides that the liquidation or dissolution of the Fund, any merger,
consolidation, share exchange or sale or exchange of all or substantially all of the assets of the Fund that requires
the approval of the Fund’s stockholders under the Maryland General Corporation Law (“MGCL”), certain transactions
between the Fund and any person or group of persons acting together and any person controlling, controlled by or
under common control with any such person or member of such group, that may exercise or direct the exercise of
10% or more of the voting power of the Fund (an “Interested Transaction”), any amendment to the Fund’s charter that
would convert the Fund from a closed-end investment company to an open end investment company or otherwise
make the Fund’s Common Shares a redeemable security and any amendment to certain provisions of the Fund’s
charter, including the provisions relating to the Fund’s business as a closed-end management investment company
and the number, qualifications, classification, election and removal of directors, and the vote required to amend such
provisions, requires the approval of the stockholders entitled to cast at least 80% of the votes entitled to be cast on
such matter. If such a proposal is approved by at least two-thirds of the Fund’s Continuing Directors (in addition to
approval by the full Board of Directors), however, such proposal may be approved by the stockholders entitled to cast
a majority of the votes entitled to be cast on such matter, provided, that, with respect to any Interested Transaction,
Prospectus 2024
6
Columbia Seligman Premium Technology Growth Fund, Inc.
Summary of the Fund
(continued)
no stockholder approval is required if such transaction is approved by at least two-thirds of the Fund’s Continuing
Directors, unless the MGCL requires such approval. The “Continuing Directors” are defined in the Fund’s charter as
(i) the directors identified in the Fund’s charter, (ii) those directors whose nomination for election by the stockholders
or whose election by the directors to fill vacancies is approved by a majority of the directors identified in the Fund’s
charter and (iii) any successor directors whose nomination for election by the stockholders or whose election by the
directors to fill vacancies is approved by a majority of the Continuing Directors then in office. This provision could
make it more difficult for certain extraordinary transactions to be approved if they are opposed by the Continuing
Directors, and discourage proxy contests for control of the Fund’s Board by persons wishing to cause such
transactions to take place. The Fund’s charter and Bylaws provide that the Board of Directors will have the exclusive
power to adopt, alter or repeal any provision of the Fund’s Bylaws or to make new Bylaws.
The voting provisions described above could have the effect of depriving stockholders of an opportunity to sell their
Common Shares at a premium over prevailing market prices by discouraging a third party from seeking to obtain
control of the Fund in a tender offer or similar transaction. In the view of the Fund’s Board, however, these provisions
offer several possible advantages, including: (1) requiring persons seeking control of the Fund to negotiate with its
management regarding the price to be paid for the amount of Common Shares required to obtain control; (2)
promoting continuity and stability; and (3) enhancing the Fund’s ability to pursue long-term strategies that are
consistent with its investment objectives and management policies. The Board has determined that the voting
requirements under the Fund’s charter described above, which are generally greater than the minimum requirements
under the 1940 Act and Maryland law, are in the best interests of the Fund’s stockholders generally.
Principal
Risks.
Investing in Common Shares involves
risks.
Additional information about these and other
risks of
investing in the Fund can be found below within the
More Information About the Fund - Principal Risks
section of this
Prospectus. You should carefully consider these risks together with all of the other information contained in this
Prospectus before making a decision to purchase Common Shares.
Active Management Risk.
Due to its active management, the Fund could underperform its benchmark index and/or
other funds with similar investment objectives and/or strategies.
Counterparty Risk.
A counterparty to a transaction in a financial instrument held by the Fund may become insolvent
or otherwise fail to perform its obligations, including making payments to the Fund, due to financial difficulties. The
Fund may obtain no or limited recovery in a bankruptcy or other reorganizational proceedings, and any recovery may
be significantly delayed.
Credit Risk.
Credit risk is the risk that the value of debt instruments may decline if the issuer thereof defaults or
otherwise becomes unable or unwilling, or is perceived to be unable or unwilling, to honor its financial obligations,

such as making payments to the Fund when due.
Derivatives Risk.
Use of derivatives is a highly specialized activity that can involve investment techniques, risks, and
tax planning different from those associated with more traditional investment instruments. Investing in derivatives
may result in significant losses.
Foreign Securities Risk.
Investments in or exposure to securities of foreign companies may involve heightened risks
relative to investments in or exposure to securities of U.S. companies. For example, foreign markets can be
extremely volatile. Foreign securities may also be less liquid, making them more difficult to trade, than securities of
U.S. companies so that the Fund may, at times, be unable to sell foreign securities at desirable times or prices.
Interest Rate Risk.
A rise in interest rates may result in a price decline of fixed-income instruments held by the Fund,
negatively impacting its performance and NAV. Falling rates may result in the fund investing in lower yielding debt
instruments, potentially lowering the Fund’s income and yield.
Issuer Risk.
An issuer in which the Fund invests or to which it has exposure may perform poorly or below
expectations, and the value of its securities may therefore decline, which may negatively affect the Fund’s
performance. These risks may be heighted for small- and mid-cap companies.
Market Risk.
The market value of the Common Shares may decrease from the market price per share you paid for
Common Shares, and if you sell your shares at such prices, you could lose money.
7
Prospectus 2024
Columbia Seligman Premium Technology Growth Fund, Inc.
Summary of the Fund
(continued)
Market Trading Discount Risk.
The Fund’s Common Shares can and have traded at a discount to the Fund’s NAV.
The shares of closed-end management investment companies frequently trade at a discount from their NAV. This is a
risk separate and distinct from the risk that the Fund’s NAV may decrease.
Non-Diversified Fund Risk.
The Fund is non-diversified, which generally means that it may invest a greater percentage
of its total assets in the securities of fewer issuers than a “diversified” fund. This increases the risk that a change in
the value of any one investment held by the Fund could affect the overall value of the Fund more than it would affect
that of a diversified fund holding a greater number of investments.
Offering Risk.
To the extent that Common Shares do not trade at a sufficient premium, the Fund may be unable to
issue additional Common Shares and may incur costs associated with maintaining an “at the market” program
without the potential benefits.
Secondary Market for the Common Shares Risk.
Issuance of Common Shares through this Prospectus offering may
have an adverse effect on the secondary market for the Common Shares. The increase in the amount of the Fund’s
outstanding Common Shares resulting from this offering may put downward pressure on the market price for
Common Shares.
Sector Risk.
The Fund may have a significant portion of its assets invested in securities of companies conducting
business in a related group of industries within one or more economic sectors. Companies in the same sector may
be similarly affected by economic, regulatory, political or market events or conditions, which may make the Fund
vulnerable to unfavorable developments in that group of industries or economic sector.
Sector Risk - Communication Services Sector Risk and Information Technology Sector Risk.
The Fund has invested
significantly in securities of companies operating in the communication services sector and the information
technology sector. The products of companies operating in these sectors may be subject to severe competition and
rapid obsolescence, and their stocks may be subject to greater price fluctuations. Companies in these sectors may
be similarly affected by economic, regulatory, political or market events or conditions, which may make the Fund
vulnerable to unfavorable developments in these sectors.
Semiconductor and Semiconductor Equipment Industry Risk.
The Fund has invested significantly in securities of
companies operating in the semiconductor and semiconductor equipment industry, which subjects the Fund to the
risks of investments in the industry, including that stock prices of companies in the industry have been and will likely
continue to be volatile relative to the overall market.
Prospectus 2024
8
 
[This page intentionally left blank]
Columbia Seligman Premium Technology Growth Fund, Inc.
Financial Highlights and Investment Performance
The Fund’s Financial Highlights for the ten most recent fiscal years have been audited by PricewaterhouseCoopers
LLP, an independent registered public accounting firm, whose report, along with the Fund’s financial statements, is
included in the Fund’s annual report, which is available upon request. The auditor’s report can be found in the SAI
under
Report of Independent Registered Public Accounting Firm
.
The financial highlights for the period ended June
30, 2024 are unaudited.
The Financial Highlights should be read in conjunction with the financial statements and
notes contained in the Fund’s 2023 annual report and June 30, 2024 semi-annual report, which may be obtained
from the Transfer Agent as provided in this Prospectus.
Per share operating performance data is designed to allow you to trace the operating performance, on a per Common
Share basis, from the beginning net asset value to the ending net asset value, so that you can understand what
effect the individual items have on your investment, assuming it was held throughout the period. Generally, the per
share amounts are derived by converting the actual dollar amounts incurred for each item, as disclosed in the
financial statements, to their equivalent per Common Share amounts, using average Common Shares outstanding
during the period.
Total return measures the Fund’s performance assuming that
investors purchased Fund shares at
market price or
net asset value as of the beginning of the period,
reinvested all their
distributions
and then sold
their
shares at the
closing market price or net asset value
on the last day of the period. The computations do not reflect
taxes or
any
sales commissions
investors may incur on distributions or on the sale of
Fund
shares
.
Total returns and portfolio
turnover are not annualized for periods of less than one year
.
The ratios of expenses and net investment income are
annualized for periods of less than one year.
The portfolio turnover rate is calculated without regard to purchase and sales transactions of short-term instruments
and certain derivatives, if any. If such transactions were included,
a
Fund’s portfolio turnover
rate
may be higher.
Prospectus 2024
10
Columbia Seligman Premium Technology Growth Fund, Inc.
Financial Highlights and Investment Performance
(continued)
 
 
Six Months
Ended
June 30,
2024
(Unaudited)
Year ended
December 31,
2023
Year ended
December 31,
2022
Per share data
Net asset value, beginning of period
$29.05
$22.63
$35.42
Income from investment operations:
Net investment income (loss)
(0.03
)
(0.05
)
(0.08
)
Net realized and unrealized gain (loss)
4.52
8.58
(9.78
)
Total from investment operations
4.49
8.53
(9.86
)
Less distributions to Stockholders from:
Net investment income
—
—
—
Net realized gains
(0.93
)
(2.12
)
(2.93
)
Total distributions to Stockholders
(0.93
)
(2.12
)
(2.93
)
(Dilution) Anti-dilution in net asset value from share purchases (via dividend reinvestment
program)
(a)
(0.00
)
(b)
0.01
(0.00
)
(b)
Anti-dilution in net asset value from share buy-backs (via stock repurchase program)
(a)
—
—
—
Net asset value, end of period
$32.61
$29.05
$22.63
Market price, end of period
$33.29
$31.60
$23.23
Total return
Based upon net asset value
15.65
%
38.89
%
(28.74
%)
Based upon market price
8.54
%
47.19
%
(29.99
%)
Ratios to average net assets
Total gross expenses
(c)
1.13
%
1.13
%
1.13
%
Net investment income (loss)
(.09
%)
(0.19
%)
(0.29
%)
Supplemental data
Net assets, end of period (in thousands):
$539,852
$478,924
$366,036
Portfolio turnover
21
%
25
%
9
%

Notes to Financial Highlights
(a)
Prior to the period ended December 31, 2022, per share amounts were only presented if the net dilution/anti-dilution impact was material relative
 
to the Fund’s average net assets for Common Stock.
(b)
Rounds to zero.
(c)
In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro
rata
share of the fees and expenses of any
 
other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios.



 
 
11
Prospectus 2024
Columbia Seligman Premium Technology Growth Fund, Inc.
Financial Highlights and Investment Performance
(continued)
 
Year ended
December 31,
2021
Year ended
December 31,
2020
Year ended
December 31,
2019
Year ended
December 31,
2018
Year ended
December 31,
2017
Year ended
December 31,
2016
Year ended
December 31,
2015
Year ended
December 31,
2014
$27.86
$23.43
$16.96
$20.83
$17.78
$17.29
$17.69
$16.18
(0.06
)
0.11
(0.02
)
(0.01
)
(0.06
)
(0.05
)
(0.04
)
(0.07
)
10.76
6.17
8.34
(1.36
)
5.74
2.39
1.49
3.43
10.70
6.28
8.32
(1.37
)
5.68
2.34
1.45
3.36
—
(0.11
)
—
—
—
—
—
—
(3.14
)
(1.74
)
(1.85
)
(2.50
)
(2.63
)
(1.85
)
(1.85
)
(1.85
)
(3.14
)
(1.85
)
(1.85
)
(2.50
)
(2.63
)
(1.85
)
(1.85
)
(1.85
)
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
$35.42
$27.86
$23.43
$16.96
$20.83
$17.78
$17.29
$17.69
$37.01
$27.24
$23.55
$16.81
$22.25
$18.74
$17.93
$18.93
39.38
%
29.17
%
51.04
%
(7.77
%)
32.72
%
15.29
%
8.40
%
22.32
%
48.96
%
25.65
%
53.17
%
(14.42
%)
34.51
%
17.18
%
5.05
%
47.17
%
1.13
%
1.15
%
1.15
%
1.15
%
1.16
%
1.17
%
1.17
%
1.17
%
(0.18
%)
0.50
%
(0.08
%)
(0.05
%)
(0.28
%)
(0.33
%)
(0.24
%)
(0.41
%)
$564,220
$443,114
$372,063
$265,315
$320,472
$273,226
$265,426
$271,300
27
%
32
%
43
%
34
%
47
%
61
%
61
%
60
%
 
Prospectus 2024
12
Columbia Seligman Premium Technology Growth Fund, Inc.
Financial Highlights and Investment Performance
(continued)
Outstanding Fund Securities at
September 30
, 2024 (Unaudited)
 
Title of Class
Amount Authorized
Amount Held by
Fund or for
its Account
Amount Outstanding
Exclusive of Amount
Held by Fund
Common Stock, $0.01 par value per share
1,000,000,000 shares
0 shares
16,583,140 shares
.
13
Prospectus 2024
Columbia Seligman Premium Technology Growth Fund, Inc.
Financial Highlights and Investment Performance
(continued)
Share Price Data (Unaudited)
The Fund’s Common Shares trade primarily on the Exchange. The following table shows the high and low closing prices
of the Fund’s Common Shares on the Exchange for each calendar quarter since the beginning of 2022, as well as the
net asset values and the range of the percentage (discounts)/premiums to net asset value per share that correspond
to such prices.
 
 
Market Price ($)
Corresponding NAV ($)
Corresponding (Discount)/Premium to NAV (%)
 
High
Low
High
Low
High
Low
2022
1st Quarter
37.50
28.28
35.64
28.72
5.22
(1.53)
2nd Quarter
32.11
24.47
32.13
24.64
(0.06)
(0.69)
3rd Quarter
32.24
23.19
28.62
22.78
12.65
1.80
4th Quarter
27.69
22.48
25.84
21.98
7.16
2.27
2023
1st Quarter
28.08
22.73
26.34
22.48
6.61
1.11
2nd Quarter
31.35
26.23
27.65
24.66
13.38
6.37
3rd Quarter
31.04
26.75
28.99
26.05
7.07
2.69
4th Quarter
31.91
25.18
29.26
24.88
9.06
1.21
2024
1st Quarter
34.05
29.37
30.72
27.81
10.84
5.61
2
nd
Quarter
33.68
29.56
32.87
28.91
2.46
2.25
The Fund’s Common Shares have historically fluctuated between trading in the market at a discount to net asset value
and at a premium to net asset value. The closing market price, net asset value and percentage (discount)/premium to
net asset value per Common Share on
June 30
, 2024 were $
33.29
, $
32.61
, and
2.09
%, respectively.
Prospectus 2024
14
Columbia Seligman Premium Technology Growth Fund, Inc.
Capitalization
In accordance with the terms of the Distribution Agreement, the Fund may offer and sell up to 8,000,000 Common
Shares from time to time, through the Distributor as the Fund’s agent for the offer and sale of Common Shares under
this Prospectus.
The price per share of any Common Share sold hereunder may be greater or less than the price of
$33.44 (the last reported sale price for the Fund’s Common Shares on the NYSE as of June 18, 2024) assumed
herein, depending on the market price of the Common Shares at the time of such sale. Furthermore, there is no
guarantee that the Fund will sell all of the Common Shares available for sale hereunder or that there will be any sales
of Common Shares hereunder. To the extent that the market price per Common Share, less any distributing
commission or discount, is less than the then current NAV per Common Share from time to time, the Fund will
instruct the Distributor not to make any sales at such time.
The following table sets forth the Fund’s capitalization (1) on a historical basis as of
June 30
, 2024 (unaudited); and
(2) on a pro forma basis as adjusted to reflect the assumed sale of 8,000,000 Common Shares at $32.00 per share
(the last reported sale price of the Fund’s Common Shares on NYSE on
June 30
, 2024) in an offering under this
Prospectus, after deducting the assumed commission of 1.00% (representing a maximum commission to the
Distributor of 1.00% of the gross proceeds of the sale of Fund Common Shares, out of which the Distributor will
compensate the Sub-Placement Agent at a rate of up to 0.80% of the gross sales proceeds of the sale of Common
Shares sold by the Sub-Placement Agent) and assuming investment of net proceeds. Actual sales, if any, of Common
Shares under this Prospectus may be greater or less than $32.00 per share, depending on the market price of
Common Shares at the time of any such sale.
 
 
As of June 30, 2024
(unaudited)
Actual
Pro Forma
(unaudited)
As Adjusted
Additional paid-in capital
$236,193,193
$489,633,193
Total distributable earnings (loss)
$303,658,691
$303,658,691
Net assets
$539,851,884
$793,291,884
Net assets per Common Share
$32.61
$32.30
Common Shares issued and outstanding
16,556,431
24,556,431
15
Prospectus 2024
Columbia Seligman Premium Technology Growth Fund, Inc.
Use of Proceeds
Use of Proceeds.
The Fund intends to invest the net proceeds of an offering of Common Shares in accordance with
its investment objective and policies as appropriate investment opportunities are identified. It is currently anticipated
that the Fund will be able to invest substantially all of the net proceeds of an offering of Common Shares in
accordance with its investment objective and policies typically within 30 days after receipt by the Fund of cash
representing the net proceeds from the sale of Common Shares under this Prospectus, depending on market
conditions and the availability of appropriate securities. Pending investment, the proceeds may be held in short-term
securities, including, but not limited to, obligations of the U.S. Government, its agencies or instrumentalities (U.S.
Government Securities), highly rated money market instruments or mutual funds that invest in such instruments. As a
result of this short-term investment of the proceeds, a lower Fund return may be realized.
Prospectus 2024
16
Columbia Seligman Premium Technology Growth Fund, Inc.
Plan of Distribution of Common Shares
The Fund has entered into the Distribution Agreement with ALPS Distributors, Inc., pursuant to which the Fund may
offer and sell up to 8,000,000 Common Shares, from time to time, through the Distributor, in transactions that are
deemed to be “at the market” as defined in Rule 415 under the 1933 Act.
There is no guarantee that there will be
any sales of Common Shares pursuant to this Prospectus.
The
price per share of any Common Share sold hereunder
may be greater or less than the price assumed herein, depending on the market price of the Common Shares at the
time of such sale. Furthermore, there is no guarantee that the Fund will sell all of the Common Shares available for
sale hereunder or that there will be any sales of Common Shares hereunder. The
minimum price at which Common
Shares may be sold will not be less than an amount at least equal to the then current NAV per Common Share plus
the per Common Share amount of the commission to be paid to the Distributor (Minimum Price). The Fund along with
the Distributor and the Sub-Placement Agent will not authorize sales of Common Shares if the price per share of the
Common Shares is less than the Minimum Price. The Fund may elect not to authorize sales of Common Shares on a
particular day even if the price per share of the Common Shares is equal to or greater than the Minimum Price or may
only authorize a fixed number of Common Shares to be sold on any particular day. The Fund has full discretion
regarding whether sales of Common Shares will be authorized on a particular day and, if so, in what amounts.
As a
result, the actual net proceeds received by the Fund may be less than the amount of net proceeds reflected in the
pro forma column of the Capitalization table shown above.
The Distributor may enter into sub-placement agent agreements with one or more selected dealers. The Distributor
has entered into the Sub-Placement Agent Agreement
with
UBS
Securities LLC
, as Sub-Placement Agent, relating to
the Common Shares offered by this Prospectus. In accordance with the terms of the Sub-Placement Agent
Agreement, the Fund may offer and sell Common Shares from time to time to be distributed by the Distributor
through the Sub-Placement Agent as sub-placement agent for the offer and sale of Common Shares.
The Distributor will instruct the Sub-Placement Agent as to the amount of Common Shares to be sold by the Sub-Placement
Agent and the Minimum Price for any day on which Common Shares may be sold. The Distributor or the
Fund may suspend the
offering
upon proper notice and subject to other conditions.
The Distributor (or the Sub-Placement Agent) will provide written confirmation to the Fund not later than the opening
of the trading day on the NYSE following any trading day on which Common Shares are sold under the Distribution
Agreement. Each confirmation will include the number of Common Shares sold on the preceding day, the net
proceeds to the Fund and the compensation payable by the Fund to the Distributor in connection with the sales.
The Fund will compensate the Distributor with respect to sales of Common Shares at a commission rate of 1.00% of
the gross proceeds of the sale of Common Shares. Out of this commission, the Distributor will compensate the Sub-Placement
Agent at a rate of up to 0.80% of the gross sales proceeds of the sale of the Common Shares sold by the
Sub-Placement Agent. There is no guarantee that there will be any sales of Common Shares pursuant to this
Prospectus.
Settlement for sales of Common Shares will occur on the first business day following the date on which such sales
are made.
There is no arrangement for funds to be deposited in escrow, trust or similar arrangement. In connection
with the sale of Common Shares on behalf of the Fund, the Distributor may be deemed to be an “underwriter” within
the meaning of the 1933 Act, and the compensation paid to the Distributor may be deemed to be underwriting
commissions or discounts.
The Fund has agreed to provide indemnification and contribution to the Distributor against certain civil liabilities,
including liabilities under the 1933 Act. The Distributor has agreed to provide indemnification to the Sub-Placement
Agent against certain civil liabilities, including liabilities under the 1933 Act. The offering of Common Shares
pursuant to the Distribution Agreement will terminate upon the earlier of (1) the issuance and sale of all Common
Shares subject to the Distribution Agreement or (2) the termination of the Distribution Agreement. The Distribution
Agreement may be terminated by the Fund or the Distributor at any time by giving 60 days’ notice to the other party.
The Common Shares may not be sold through the Distributor or the Sub-Placement Agent without delivery or deemed
delivery of this Prospectus describing the method and terms of the offering of the Common Shares. The Sub-Placement
Agent, its affiliates or their respective employees hold or may hold in the future, directly or indirectly,
investment interests in the Fund. The interests held by the Sub-Placement Agent, its affiliates or their respective
employees are not attributable to, and no investment discretion is held by, the Sub-Placement Agent, its affiliates or
17
Prospectus 2024
Columbia Seligman Premium Technology Growth Fund, Inc.
Plan of Distribution of Common Shares
(continued)
their respective affiliates. The principal business address of the Distributor is ALPS Distributors, Inc., 1290
Broadway, Suite 1000, Denver, CO 80203. The principal business address of the Sub-Placement Agent is
1285
Avenue Of The Americas
,
New
York
,
NY
10019
.
Prospectus 2024
18
Columbia Seligman Premium Technology Growth Fund, Inc.
More Information About the Fund
The Fund
The Fund is a Maryland corporation formed in 2009. It is registered under the 1940 Act, as a non-diversified
management investment company of the closed-end type.
Investment Objective and Policies
The Fund seeks growth of capital and current income.
The Fund’s investment objective is not a fundamental policy
and may be changed by the Fund’s Board of Directors without stockholder approval.
Because any investment involves
risk, there is no assurance the Fund’s investment objective will be achieved.
Under normal market conditions, the Fund invests at least 80% of its Managed Assets in a portfolio of equity
securities of technology and technology-related companies that the Investment Manager believes offer attractive
opportunities for capital appreciation. Under normal market conditions, the Fund’s investment program consists
primarily of (i) investing in a portfolio of
common stocks
of technology and technology-related companies that seeks
to exceed the total return, before fees and expenses, of the S&P North American Technology Sector Index
(described
further below)
and (ii) writing call options on the Nasdaq 100 Index
®
, an unmanaged index
of the 100 largest
non-financial
domestic and international companies listed on the Nasdaq Stock Market
based on market capitalization
, or
an
exchange-traded fund equivalent (the Nasdaq 100) on a month-to-month basis, with an aggregate notional amount
typically ranging from 0%-90% of the underlying value of the Fund’s holdings of common stock (the Rules-based
Option Strategy, as further described below). The Fund expects to generate current income from premiums received
from writing call options on the Nasdaq 100.
The Fund concentrates its investments in technology and technology-related
stocks. The Fund may invest in companies of any size, including small-, mid-, and large-cap companies, as
well as in foreign companies.
Technology and technology-related companies in which the Fund invests are companies operating in the information
technology and communications services sectors, as well as other related industries, applying a global industry
classification standard, as it may be amended from time to time, to determine industry/sector classifications. These
related industry companies may also include companies operating in the consumer discretionary and healthcare
sectors, particularly those that are principally engaged in offering or developing products, processes, or services that
benefit significantly from technological advances and improvements. By way of example, technology and technology-related
companies may include semiconductor, semiconductor equipment, technology hardware, storage and
peripherals, software, communication equipment and services, electronic equipment and instruments, internet
services and infrastructure, media, health care equipment and supplies, and medical technology companies. The
Fund tends to focus its technology and technology-related investments on companies in the information technology
sector and/or the semiconductor and semiconductor equipment industry.
In determining the level (i.e., 0% to 90%) of call options to be written on the Nasdaq 100, the Investment Manager’s
Rules-based Option Strategy is based on the CBOE Nasdaq-100 Volatility Index
SM
(the VXN Index). The VXN Index
measures the market’s expectation of 30-day volatility implicit in the prices of near-term Nasdaq 100 Index options.
The VXN Index, which is quoted in percentage points (e.g., 19.36), is a leading barometer of investor sentiment and
market volatility relating to the Nasdaq 100 Index. In general, the Investment Manager intends to write more call
options when market volatility, as represented by the VXN Index, is high (and premiums received for writing the option
are high) and write fewer call options when market volatility, as represented by the VXN Index, is low (and premiums
for writing the option are low).
The Fund’s Rules-based Option Strategy with respect to writing call options is as follows:
 
When the VXN Index is:
Aggregate Notional Amount of Written Call Options as a Percentage of the Fund’s Holdings in
Common Stocks
17 or less
25%
Greater than 17, but less than
18
Increase up to 50%
At least 18, but less than 33
50%
19
Prospectus 2024
Columbia Seligman Premium Technology Growth Fund, Inc.
More Information About the Fund
(continued)
At least 33, but less than 34
Increase up to 90%
At least 34, but less than 55
90%
At 55 or greater
0% to 90%
In addition to the Rules-based Option Strategy, the Fund may write additional calls with aggregate notional amounts of
up to 25% of the value of the Fund’s holdings in common stock (to a maximum of 90% when aggregated with the call
options written pursuant to the Rules-based Option Strategy) when the Investment Manager believes call premiums
are attractive relative to the risk of the price of the Nasdaq 100. The Fund may also close (or buy back) a written call
option if the Investment Manager believes that a substantial amount of the premium (typically, 70% or more) to be
received by the Fund has been captured before exercise, potentially reducing the call position to 0% of total equity
until additional calls are written. The Fund may
,
subject to the above-mentioned aggregate notional amount of 90% of
the underlying value of the Fund’s holdings of common stock,
also buy or write other call and put options on
securities, indices, ETFs and market baskets of securities to generate additional income or return or to provide the
portfolio with downside protection.
The S&P North American Technology Sector Index is a benchmark that represents U.S. securities classified under the
GICS
®
information technology sector as well as the internet and direct marketing retail, interactive home
entertainment, and interactive media & services sub-industries.
The Fund’s investment policy of investing at least 80% of its Managed Assets in equity securities of technology and
technology-related companies and its policy with respect to the use of the Rules-based Option Strategy on a month-to-month
basis may be changed by the Board without stockholder approval only with 60 days’ prior written notice to
stockholders.
The Fund is a non-diversified fund. A non-diversified fund is permitted to invest a greater percentage of its total
assets in fewer issuers than a diversified fund. This policy may not be changed without a stockholder vote. The Fund
has a fundamental policy of investing at least 25% of
the value of its Managed Assets in
technology and technology-related
stocks. This policy may not be changed without a stockholder vote. The Fund may also invest: up to 15% of its
Managed Assets in illiquid securities (i.e., securities that at the time of purchase are not readily marketable); up to
20% of its Managed Assets in debt securities (including convertible and non-convertible debt securities), such as
debt securities issued by technology and technology-related companies and obligations of the U.S. Government, its
agencies and instrumentalities, and government-sponsored enterprises, as well as below-investment grade securities
(i.e., high-yield or junk bonds); and up to 25% of its Managed Assets in equity securities of companies organized
outside of the United States. The Fund may hold foreign securities of issuers located or doing substantial business in
emerging markets. Each of these policies may be changed by the Board without stockholder approval.
Principal Risks
An investment in the Fund involves risks.
The
principal risks of investing in the Fund are provided below.
There is no
assurance that the Fund will achieve its investment objective and you may lose money
. The value of the Fund’s
holdings may decline, and the Fund’s net asset value (NAV) and share price may go down. An investment in the Fund
is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other
government agency. The significance of any specific risk to an investment in the Fund will vary over time depending
on the composition of the Fund's portfolio, market conditions, and other factors. You should read all of the risk
information below carefully, because any one or more of these risks may result in losses to the Fund.
Prospectus 2024
20
Columbia Seligman Premium Technology Growth Fund, Inc.
More Information About the Fund
(continued)
Active Management Risk.
The Fund is actively managed and its performance therefore will reflect, in part, the ability
of the portfolio managers to make investment decisions that seek to achieve the Fund’s investment objective. Due to
its active management, the Fund could underperform its benchmark index and/or other funds with similar investment
objectives and/or strategies.
Counterparty Risk.
The risk exists that a counterparty to a transaction in a financial instrument held by the Fund or
by a special purpose or structured vehicle in which the Fund invests may become insolvent or otherwise fail to
perform its obligations, including making payments to the Fund, due to financial difficulties. The Fund may obtain no
or limited recovery in a bankruptcy or other reorganizational proceedings, and any recovery may be significantly
delayed. Transactions that the Fund enters into may involve counterparties in the financials sector and, as a result,
events affecting the financials sector may cause the Fund’s NAV to fluctuate.
Credit Risk.
Credit risk is the risk that the value of debt instruments may decline if the issuer thereof defaults or
otherwise becomes unable or unwilling, or is perceived to be unable or unwilling, to honor its financial obligations,
such as making payments to the Fund when due. Various factors could affect the actual or perceived willingness or
ability of the issuer to make timely interest or principal payments, including changes in the financial condition of the
issuer or in general economic conditions. Credit rating agencies, such as S&P Global Ratings, Moody’s Ratings, Fitch,
DBRS and KBRA, assign credit ratings to certain debt instruments to indicate their credit risk. A rating downgrade by
such agencies can negatively impact the value of such instruments. Lower-rated or unrated instruments held by the
Fund may present increased credit risk as compared to higher-rated instruments. Non-investment grade debt
instruments may be subject to greater price fluctuations and are more likely to experience a default than investment
grade debt instruments and therefore may expose the Fund to increased credit risk. If the Fund purchases unrated
instruments, or if the ratings of instruments held by the Fund are lowered after purchase, the Fund will depend on
analysis of credit risk more heavily than usual.
Derivatives Risk.
Derivatives may involve significant risks. Derivatives are financial instruments, traded on an
exchange or in the over-the-counter (OTC) markets, with a value in relation to, or derived from, the value of an
underlying asset(s) (such as a security, commodity or currency) or other reference, such as an index, rate or other
economic indicator (each an underlying reference). Derivatives may include those that are privately placed or
otherwise exempt from SEC registration, including certain Rule 144A eligible securities. Derivatives could result in
Fund losses if the underlying reference does not perform as anticipated. Use of derivatives is a highly specialized
activity that can involve investment techniques, risks, and tax planning different from those associated with more
traditional investment instruments. The Fund’s derivatives strategy may not be successful and use of certain
derivatives could result in substantial, potentially unlimited, losses to the Fund regardless of the Fund’s actual
investment. A relatively small movement in the price, rate or other economic indicator associated with the underlying
reference may result in substantial losses for the Fund. Derivatives may be more volatile than other types of
investments. Derivatives can increase the Fund’s risk exposure to underlying references and their attendant risks,
including the risk of an adverse credit event associated with the underlying reference (credit risk), the risk of an
adverse movement in the value, price or rate of the underlying reference (market risk), the risk of an adverse
movement in the value of underlying currencies (foreign currency risk) and the risk of an adverse movement in
underlying interest rates (interest rate risk). Derivatives may expose the Fund to additional risks, including the risk of
loss due to a derivative position that is imperfectly correlated with the underlying reference it is intended to hedge or
replicate (correlation risk), the risk that a counterparty will fail to perform as agreed (counterparty risk), the risk that
a hedging strategy may fail to mitigate losses, and may offset gains (hedging risk), the risk that the return on an
investment may not keep pace with inflation (inflation risk), the risk that losses may be greater than the amount
invested (leverage risk), the risk that the Fund may be unable to sell an investment at an advantageous time or price
(liquidity risk), the risk that the investment may be difficult to value (pricing risk), and the risk that the price or value
of the investment fluctuates significantly over short periods of time (volatility risk). The value of derivatives may be
influenced by a variety of factors, including national and international political and economic developments. Potential
changes to the regulation of the derivatives markets may make derivatives more costly, may limit the market for
derivatives, or may otherwise adversely affect the value or performance of derivatives.
21
Prospectus 2024
Columbia Seligman Premium Technology Growth Fund, Inc.
More Information About the Fund
(continued)
Derivatives Risk – Options Risk.
Options are derivatives that give the purchaser the option to buy (call) or sell (put)
an underlying reference from or to a counterparty at a specified price (the strike price) on or before an expiration
date. The Fund may purchase or write (i.e., sell) put and call options on an underlying reference it is otherwise
permitted to invest in. When writing options, the Fund is exposed to the risk that it may be required to buy or sell the
underlying reference at a disadvantageous price on or before the expiration date. If the Fund sells a put option, the
Fund may be required to buy the underlying reference at a strike price that is above market price, resulting in a loss.
If the Fund sells a call option, the Fund may be required to sell the underlying reference at a strike price that is below
market price, resulting in a loss. If the Fund sells a call option that is not covered (it does not own the underlying
reference), the Fund's losses are potentially unlimited. Options may involve economic leverage, which could result in
greater volatility in price movement. Options may be traded on a securities exchange or in the over-the-counter
market. At or prior to maturity of an options contract, the Fund may enter into an offsetting contract and may incur a
loss to the extent there has been adverse movement in options prices. Options can increase the Fund’s risk
exposure to underlying references and their attendant risks
,
such as credit risk, market risk, foreign currency risk and
interest rate risk, while
potentially
exposing the Fund to correlation risk, counterparty risk, hedging risk, inflation risk,
leverage risk, liquidity risk, pricing risk and volatility risk
Foreign Securities Risk.
Investments in or exposure to securities of foreign companies may involve heightened risks
relative to investments in or exposure to securities of U.S. companies. For example, foreign markets can be
extremely volatile. Foreign securities may also be less liquid, making them more difficult to trade, than securities of
U.S. companies so that the Fund may, at times, be unable to sell foreign securities at desirable times or prices.
Brokerage commissions, custodial costs and other fees are also generally higher for foreign securities. The Fund may
have limited or no legal recourse in the event of default with respect to certain foreign securities, including those
issued by foreign governments. In addition, foreign governments may impose withholding or other taxes on the Fund’s
income, capital gains or proceeds from the disposition of foreign securities, which could reduce the Fund’s return on
such securities. In some cases, such withholding or other taxes could potentially be confiscatory. Other risks include:
possible delays in the settlement of transactions or in the payment of income; generally less publicly available
information about foreign companies; the impact of economic, political, social, diplomatic or other conditions or
events (including, for example, military confrontations and actions, war, other conflicts, terrorism and disease/virus
outbreaks and epidemics), possible seizure, expropriation or nationalization of a company or its assets or the assets
of a particular investor or category of investors; accounting, auditing and financial reporting standards that may be
less comprehensive and stringent than those applicable to domestic companies; the imposition of economic and
other sanctions against a particular foreign country, its nationals or industries or businesses within the country; and
the generally less stringent standard of care to which local agents may be held in the local markets. In addition, it
may be difficult to obtain reliable information about the securities and business operations of certain foreign issuers.
Governments or trade groups may compel local agents to hold securities in designated depositories that are not
subject to independent evaluation. The less developed a country’s securities market is, the greater the level of risks.
Economic sanctions may be, and have been, imposed against certain countries, organizations, companies, entities
and/or individuals. Economic sanctions and other similar governmental actions could, among other things, effectively
restrict or eliminate the Fund’s ability to purchase or sell securities, and thus may make the Fund’s investments in
such securities less liquid or more difficult to value. In addition, as a result of economic sanctions, the Fund may be
forced to sell or otherwise dispose of investments at inopportune times or prices, which could result in losses to the
Fund and increased transaction costs. These conditions may be in place for a substantial period of time and enacted
with limited advance notice to the Fund. The risks posed by sanctions against a particular foreign country, its
nationals or industries or businesses within the country may be heightened to the extent the Fund invests
significantly in the affected country or region or in issuers from the affected country that depend on global markets.
Additionally, investments in certain countries may subject the Fund to a number of tax rules, the application of which
may be uncertain. Countries may amend or revise their existing tax laws, regulations and/or procedures in the future,
possibly with retroactive effect. Changes in or uncertainties regarding the laws, regulations or procedures of a
country could reduce the after-tax profits of the Fund, directly or indirectly, including by reducing the after-tax profits of
companies located in such countries in which the Fund invests, or result in unexpected tax liabilities for the Fund. The
performance of the Fund may also be negatively affected by fluctuations in a foreign currency's strength or weakness
relative to the U.S. dollar, particularly to the extent the Fund invests a significant percentage of its assets in foreign
Prospectus 2024
22
Columbia Seligman Premium Technology Growth Fund, Inc.
More Information About the Fund
(continued)
securities or other assets denominated in currencies other than the U.S. dollar. Currency rates in foreign countries
may fluctuate significantly over short or long periods of time for a number of reasons, including changes in interest
rates, imposition of currency exchange controls and economic or political developments in the U.S. or abroad. The
Fund may also incur currency conversion costs when converting foreign currencies into U.S. dollars and vice versa.
Interest Rate Risk.
Interest rate risk is the risk of losses attributable to changes in interest rates. In general, if
interest rates rise, the values of debt instruments tend to fall, and if interest rates fall, the values of debt
instruments tend to rise. Changes in the value of a debt instrument usually will not affect the amount of income the
Fund receives from it but will generally affect the value of your investment in the Fund. Changes in interest rates may
also affect the liquidity of the Fund’s investments in debt instruments. In general, the longer the maturity or duration
of a debt instrument, the greater its sensitivity to changes in interest rates. For example, a three-year duration means
a bond is expected to decrease in value by 3% if interest rates rise 1% and increase in value by 3% if interest rates
fall 1%. Interest rate declines also may increase prepayments of debt obligations, which, in turn, would increase
prepayment risk (the risk that the Fund will have to reinvest the money received in securities that have lower yields).
The Fund is subject to the risk that the income generated by its investments may not keep pace with inflation.
Actions by governments and central banking authorities can result in increases or decreases in interest rates. Higher
periods of inflation could lead such authorities to raise interest rates. Such actions may negatively affect the value of
debt instruments held by the Fund, resulting in a negative impact on the Fund's performance and NAV. Any interest
rate increases could cause the value of the Fund’s investments in debt instruments to decrease. Rising interest
rates may prompt redemptions from the Fund, which may force the Fund to sell investments at a time when it is not
advantageous to do so, which could result in losses.
Issuer Risk.
An issuer in which the Fund invests or to which it has exposure may perform poorly or below
expectations, and the value of its securities may therefore decline, which may negatively affect the Fund’s
performance. Underperformance of an issuer may be caused by poor management decisions, competitive pressures,
breakthroughs in technology, reliance on suppliers, labor problems or shortages, corporate restructurings, fraudulent
disclosures, natural disasters, military confrontations and actions, war, other conflicts, terrorism, disease/virus
outbreaks, epidemics or other events, conditions and factors which may impair the value of your investment in the
Fund and could result in a greater premium or discount between the market price and the NAV of the Fund's shares
and wider bid/ask spreads than those experienced by other closed-end funds.
■
Small- and Mid-Cap Stock Risk.
Securities of small- and mid-cap companies can, in certain circumstances, have a
higher potential for gains than securities of larger companies but are more likely to have more risk than larger
companies. For example, small- and mid-cap companies may be more vulnerable to market downturns and adverse
business or economic events than larger companies because they may have more limited financial resources and
business operations. Small- and mid-cap companies are also more likely than larger companies to have more
limited product lines and operating histories and to depend on smaller and generally less experienced
management teams. Securities of small- and mid-cap companies may trade less frequently and in smaller volumes
and may be less liquid and fluctuate more sharply in value than securities of larger companies. When the Fund
takes significant positions in small- and mid-cap companies with limited trading volumes, the liquidation of those
positions, particularly in a distressed market, could be prolonged and result in Fund investment losses that would
affect the value of your investment in the Fund. In addition, some small- and mid-cap companies may not be widely
followed by the investment community, which can lower the demand for their stocks.
■
Large-Cap Stock Risk.
Investments in larger, more established companies (larger companies) may involve certain
risks associated with their larger size. For instance, larger companies may be less able to respond quickly to new
competitive challenges, such as changes in consumer tastes or innovation from smaller competitors. Also, larger
companies are sometimes less able to achieve as high growth rates as successful smaller companies, especially
during extended periods of economic expansion.
Market Risk.
The Fund may incur losses due to declines in the value of one or more securities in which it invests.
These declines may be due to factors affecting a particular issuer, or the result of, among other things, political,
regulatory, market, economic or social developments affecting the relevant market(s) more generally. In addition,
turbulence in financial markets and reduced liquidity in equity, credit and/or fixed income markets may negatively
affect many issuers, which could adversely affect the Fund’s ability to price or value hard-to-value assets in thinly
23
Prospectus 2024
Columbia Seligman Premium Technology Growth Fund, Inc.
More Information About the Fund
(continued)
traded and closed markets and could cause significant redemptions and operational challenges. Global economies
and financial markets are increasingly interconnected, and conditions and events in one country, region or financial
market may adversely impact issuers in a different country, region or financial market. These risks may be magnified
if certain events or developments adversely interrupt the global supply chain; in these and other circumstances, such
risks might affect companies worldwide. As a result, local, regional or global events such as terrorism, war, other
conflicts, natural disasters, disease/virus outbreaks and epidemics or other public health issues, recessions,
depressions or other events – or the potential for such events – could have a significant negative impact on global
economic and market conditions and could result in a greater premium or discount between the market price and the
NAV of the Fund's shares and wider bid/ask spreads than those experienced by other closed-end funds.
Market Trading Discount Risk.
The
Fund
’s
Common
Shares can and have traded at a discount to the
Fund’s
NAV.
The shares of closed-end management investment companies frequently trade at a discount from their NAV. This is a
risk separate and distinct from the risk that the Fund’s NAV may decrease.
Non-Diversified Fund Risk.
 The Fund is non-diversified, which generally means that it may invest a greater percentage
of its total assets in the securities of fewer issuers than a “diversified” fund. This increases the risk that a change in
the value of any one investment held by the Fund could affect the overall value of the Fund more than it would affect
that of a diversified fund holding a greater number of investments. Accordingly, the Fund's value will likely be more
volatile than the value of a more diversified fund.
Offering Risk.
The provisions of the 1940 Act generally require that the public offering price of an investment
company’s common shares (less any underwriting commissions and discounts) must equal or exceed the NAV per
share of an investment company’s common stock (calculated within 48 hours of pricing)
, plus any sales commission
charged in connection with the offering
. In the offering described in this Prospectus, the Fund may, subject to market
conditions, raise additional equity capital by issuing new Common Shares from time to time in varying amounts at a
net price at or above the Fund’s NAV per Common Share (calculated within 48 hours of pricing). To the extent that
Fund Common Shares do not trade at a premium, the Fund may be unable to issue additional Common Shares, and
may incur costs associated with maintaining an “at the market” program without the potential benefits. The offering
described in this Prospectus may allow the Fund to pursue additional investment opportunities without the need to
sell existing portfolio investments and will increase the asset size of the Fund and thus cause the Fund’s fixed
expenses to be spread over a larger asset base. However, the issuance may not necessarily result in an increase to
net income for
stockholders
, which depends upon available investment opportunities and other factors. The Fund
cannot predict whether its Common Shares will trade in the future at a premium
to Fund
NAV per Common Share.
Shares of common stock of closed-end investment companies frequently trade at a discount from NAV, which may
increase investors’ risk of loss. In no event will Common Shares be issued at a price below the Fund’s NAV per
Common Share (calculated within 48 hours of pricing) plus any sales commission charged in connection with the
offering. The offering described in this Prospectus entails potential risks to existing common
stockholders
. Although
the issuance of additional Common Shares may facilitate a more active market in the Fund’s Common Shares by
increasing the amount of Common Shares outstanding, the issuance of additional Common Shares may also have an
adverse effect on prices for the Fund’s Common Shares in the secondary market by increasing the supply of
Common Shares available for sale. The issuance of additional Common Shares will dilute the voting power of already
outstanding Common Shares.
Secondary Market for the Common Shares Risk.
The issuance of Common Shares through this Prospectus offering
may have an adverse effect on the secondary market for the Common Shares. The increase in the amount of the
Fund’s outstanding Common Shares resulting from this offering may put downward pressure on the market price for
the Common Shares of the Fund. Common Shares will not be issued pursuant to the offering at any time when
Common Shares are trading at a price lower than a price equal to the Fund’s NAV per Common Share plus the per
Common Share amount of commissions. The Fund also issues Common Shares of the Fund through its Dividend
Investment Plan. See “Dividend Investment Plan.” Common Shares may be issued under the plan at a discount to
the market price for such Common Shares, which may put downward pressure on the market price for Common
Shares of the Fund. When the Common Shares are trading at a premium, the Fund may also issue Common Shares
of the Fund that are sold through transactions effected on the NYSE. The increase in the amount of the Fund’s
outstanding Common Shares resulting from that offering may also put downward pressure on the market price for the
Prospectus 2024
24
Columbia Seligman Premium Technology Growth Fund, Inc.
More Information About the Fund
(continued)
Common Shares of the Fund. The voting power of current Common Stockholders will be diluted to the extent that
such stockholders do not purchase shares in any future Common Share offerings or do not purchase sufficient
shares to maintain their percentage interest. In addition, if the Investment Manager is unable to invest the proceeds
of such offering as intended, the Fund’s per share distribution may decrease (or may consist of return of capital) and
the Fund may not participate in market advances to the same extent as if such proceeds were fully invested as
planned.
Sector Risk.
At times, the Fund may have a significant portion of its assets invested in securities of companies
conducting business in a related group of industries within one or more economic sectors including the
communication services sector and the
information technology sector. Companies in
these sectors
may be similarly
affected by economic, regulatory, political or market events or conditions, which may make the Fund vulnerable to
unfavorable developments in
these sectors
.
Communication Services Sector and
Information Technology Sector
.
The Fund is vulnerable to the particular risks
that may affect companies in the
communication services sector and the
information technology sector. Companies
in
these sectors
are subject to certain risks, including the risk that new services, equipment or technologies will not
be accepted by consumers and businesses or will become rapidly obsolete. Performance of such companies may be
affected by factors including obtaining and protecting patents (or the failure to do so) and significant competitive
pressures, including aggressive pricing of their products or services, new market entrants, competition for market
share and short product cycles due to an accelerated rate of technological developments. Such competitive
pressures may lead to limited earnings and/or falling profit margins. As a result, the value of their securities may fall
or fail to rise. In addition, many
communication services sector and
information technology sector companies have
limited operating histories and prices of these companies’ securities historically have been more volatile than other
securities, especially over the short term. Some companies in
these sectors
are facing increased government and
regulatory scrutiny and may be subject to adverse government or regulatory action, which could negatively impact the
value of their securities.
Semiconductor and Semiconductor Equipment Industry Risk.
The Fund investment in the semiconductors and
semiconductor equipment industry subjects the Fund to the risks of investments in the industry, including: intense
competition, both domestically and internationally, including competition from subsidized foreign competitors with
lower production costs; wide fluctuations in securities prices due to risks of rapid obsolescence of products and
related technology; economic performance of the customers of semiconductor and related companies; their research
costs and the risks that their products may not prove commercially successful; and thin capitalization and limited
product lines, markets, financial resources or quality management and personnel. Semiconductor design and process
methodologies are subject to rapid technological change requiring large expenditures, potentially requiring financing
that may be difficult or impossible to obtain, for research and development in order to improve product performance
and increase manufacturing yields. These companies rely on a combination of patents, trade secret laws and
contractual provisions to protect their technologies. The process of seeking patent protection can be long and
expensive. The industry is characterized by frequent litigation regarding patent and other intellectual property rights,
which may require such companies to defend against competitors’ assertions of intellectual property infringement or
misappropriation. Some companies are also engaged in other lines of business unrelated to the semiconductor
business, and these companies may experience problems with these lines of business that could adversely affect
their operating results. The international operations of many companies expose them to the risks associated with
instability and changes in economic and political conditions, foreign currency fluctuations, changes in foreign
regulations, tariffs, and trade disputes. Business conditions in this industry can change rapidly from periods of
strong demand to periods of weak demand. Any future downturn in the industry could harm the business and
operating results of these companies. The stock prices of companies in the industry have been and will likely
continue to be volatile relative to the overall market.
Transactions in Derivatives
The Fund may enter into derivative transactions or otherwise have exposure to derivative transactions through
underlying investments. Derivatives are financial contracts whose values are, for example, based on (or “derived”
from) traditional securities (such as a stock or bond), assets (such as a commodity like gold or a foreign currency),
25
Prospectus 2024
Columbia Seligman Premium Technology Growth Fund, Inc.
More Information About the Fund
(continued)
reference rates (such as the Secured Overnight Financing Rate (commonly known as SOFR)) or market indices (such
as the Standard & Poor’s 500
®
Index). The use of derivatives is a highly specialized activity which involves investment
techniques and risks different from those associated with ordinary portfolio securities transactions. Derivatives
involve special risks and may result in losses or may limit the Fund’s potential gain from favorable market
movements. Derivative strategies often involve leverage, which may exaggerate a loss, potentially causing the Fund to
lose more money than it would have lost had it invested in the underlying security or other asset directly. The values
of derivatives may move in unexpected ways, especially in unusual market conditions, and may result in increased
volatility in the value of the derivative and/or the Fund’s shares, among other consequences. The use of derivatives
may also increase the amount of taxes payable by
stockholders
holding shares in a taxable account.
See the
Taxation
section in the SAI for more information.
Other risks arise from the Fund’s potential inability to terminate or to sell
derivative positions. A liquid secondary market may not always exist for the Fund’s derivative positions at times when
the Fund might wish to terminate or to sell such positions. Over-the-counter instruments (investments not traded on
an exchange) may be illiquid, and transactions in derivatives traded in the over-the-counter market are subject to the
risk that the other party will not meet its obligations. The use of derivatives also involves the risks of mispricing or
improper valuation and that changes in the value of the derivative may not correlate perfectly with the underlying
security, asset, reference rate or index. The Fund also may not be able to find a suitable derivative transaction
counterparty, and thus may be unable to engage in derivative transactions when it is deemed favorable to do so, or at
all.
The U.S. government and the European Union (and some other jurisdictions) have enacted regulations and similar
requirements that prescribe clearing, margin, reporting and registration requirements for participants in the
derivatives market. These requirements are evolving and their ultimate impact on the Fund remains unclear, but such
impact could include restricting and/or imposing significant costs or other burdens upon the Fund’s participation in
derivatives transactions. Additionally, regulations governing the use of derivatives by registered investment
companies, such as the Fund, require, among other things, that a fund that invests in derivative instruments beyond
a specified limited amount to apply a value-at-risk-based limit to its portfolio and establish a comprehensive
derivatives risk management program. As of the date of this prospectus, the Fund is required to maintain a
comprehensive derivatives risk management program
. For more information on the risks of derivative investments
and strategies, see the SAI.
Management of the Fund
Board of Directors
Stockholders elect the Board that oversees the Fund’s operations. The Board elects officers who are responsible for
day-to-day business decisions based on policies set by the Board. The Board initially approves the Service Provider
Contracts (as defined below), monitors the level and quality of services provided, and evaluates the services provided
annually. A more detailed description of the Fund’s Board and its responsibilities appears in the SAI.
Primary Service Providers
The Fund enters into contractual arrangements (Service Provider Contracts) with various service providers, including,
among others, the Investment Manager, the
Distributor, the
Transfer Agent and the Fund’s custodian. The Fund’s
Service Provider Contracts are solely among the parties thereto. Stockholders are not parties to, or intended to be
third-party beneficiaries of, any Service Provider Contracts. Further, this prospectus, the SAI and any Service Provider
Contracts are not intended to give rise to any agreement, duty, special relationship or other obligation between the
Fund and any investor, or give rise to any contractual, tort or other rights in any individual stockholder, group of
stockholders or other person, including any right to assert a fiduciary or other duty, enforce the Service Provider
Contracts against the parties or to seek any remedy thereunder, either directly or on behalf of the Fund. Nothing in
the previous sentence should be read to suggest any waiver of any rights under federal or state securities laws.
The Investment Manager is an affiliate of Ameriprise Financial, Inc. (Ameriprise Financial). The Investment Manager
and its affiliates currently provide key services, including investment advisory, administration, distribution,
stockholder servicing and
/or
transfer agency services, to various other funds, including the Columbia Funds, and are
paid for providing these services. These service relationships are described below.
Prospectus 2024
26
Columbia Seligman Premium Technology Growth Fund, Inc.
More Information About the Fund
(continued)
The Investment Manager
Columbia Management Investment Advisers, LLC is located at 290 Congress Street, Boston, MA 02210 and serves
as investment adviser and administrator to the Columbia Funds. The Investment Manager is a registered investment
adviser and a wholly-owned subsidiary of Ameriprise Financial. The Investment Manager’s management experience
covers all major asset classes, including equity securities, debt instruments and money market instruments. In
addition to serving as an investment adviser to traditional mutual funds, exchange-traded funds and closed-end
funds, the Investment Manager acts as an investment adviser for itself, its affiliates, individuals, corporations,
retirement plans, private investment companies and financial intermediaries.
Subject to oversight by the Board, the Investment Manager manages the day-to-day operations of the Fund,
determining what securities and other investments the Fund should buy or sell and executing portfolio transactions.
The Investment Manager may use the research and other capabilities of its affiliates and third parties in managing
the Fund’s investments.
The Investment Manager is also responsible for overseeing the administrative operations of
the Fund, including the general supervision of the Fund’s operations, the coordination of the Fund’s other service
providers and the provision of related clerical and administrative services.
The Fund pays the Investment Manager a fee for its management services, which include investment advisory and
administrative services. The fee is calculated as a percentage of the Fund’s daily Managed Assets and is paid
monthly. Managed Assets means the net asset value of the Fund’s outstanding Common Shares plus the liquidation
preference of any issued and outstanding preferred stock of the Fund and the principal amount of any borrowings
used for leverage.
In calculating the management fee paid by the Fund to the Investment Manager, the Fund values
its assets, including its investments in derivatives, as described in the
"Computation of Net Asset Value"
section in
this
Prospectus.
The Board approved new management services fees, which takes effect as of the date of this
Prospectus. This fee is equal to 1.06% of the Fund
'
s
Managed Assets
on the first $500 million, gradually reducing to
0.85% as the Fund's Managed Assets increase. Previously, the management services fee was an annual fee equal to
1.06% on all of the Fund's daily Managed Assets. For the Fund’s most recent fiscal year, management services fees
paid to the Investment Manager by the Fund amounted to 1.06% of average daily Managed Assets of the Fund (with
no reductions as assets increase).
A discussion regarding the basis for the Board’s approval of the renewal of the Fund's management agreement is
available in the Fund’s June 30 semiannual report to stockholders.
Under the management agreement, the Fund also pays taxes, brokerage commissions and non-advisory expenses,
which include custodian fees and charges; fidelity bond premiums; certain legal fees; registration fees for shares, as
necessary; consultants’ fees; compensation of Board members, officers and employees not employed by the
Investment Manager or its affiliates; corporate filing fees; organizational expenses; expenses incurred in connection
with lending securities; interest and fee expense related to the Fund’s participation in inverse floater structures; and
expenses properly payable by the Fund, approved by the Board.
Columbia Management will pay the expenses of the
offering (other than the applicable commissions). Offering expenses generally include, but are not limited to, the
preparation, review and filing with the SEC of the Fund’s registration statement (including this Prospectus and the
SAI), the preparation, review and filing of any associated marketing or similar materials, costs associated with the
printing, mailing or other distribution of this Prospectus, SAI and/or marketing materials, associated filing fees, NYSE
listing fees, and legal and auditing fees associated with the offering.
Portfolio Managers
Information about the portfolio managers primarily responsible for overseeing the Fund’s investments is shown
below. The SAI provides additional information about the portfolio managers, including information relating to
compensation, other accounts managed by the portfolio managers, and ownership by the portfolio managers of Fund
shares.
 
Portfolio Management
Role with Fund
Managed Fund Since
Paul Wick
Lead Portfolio Manager
2009
Braj Agrawal
Portfolio Manager
2010
Christopher Boova
Portfolio Manager
2016
27
Prospectus 2024
Columbia Seligman Premium Technology Growth Fund, Inc.
More Information About the Fund
(continued)
Portfolio Management
Role with Fund
Managed Fund Since
Jeetil Patel
Technology Team Member
2015
Vimal Patel
Technology Team Member
2018
Shekhar Pramanick
Technology Team Member
2018
Mr. Wick
joined one of the Columbia Management legacy firms or acquired business lines in 1987. Mr. Wick is Team
Leader and Portfolio Manager for the Columbia Seligman Technology strategies. Mr. Wick began his investment
career in 1987 and earned a B.A. from Duke and an M.B.A. from Duke’s Fuqua School of Business.
Mr. Agrawal
joined one of the Columbia Management legacy firms or acquired business lines in 2010. Mr. Agrawal
began his investment career in 2001 and earned a B.A. in economics from received a B.A. in Economics from the
University of Illinois at Urbana-Champaign and an M.B.A. from the University of Minnesota Carlson School of
Management.
Mr. Boova
joined one of the Columbia Management legacy firms or acquired business lines in 2000. Mr. Boova
began his investment career in 1995 and earned two B.S. degrees from Worcester Polytechnic Institute, an M.A. from
Georgetown University and an M.B.A. from the Wharton School at the University of Pennsylvania.
Mr. Patel
joined the Investment Manager in 2012. Mr. Patel began his investment career in 1998 and earned a B.A.
from University of California, Los Angeles.
Mr. Patel
joined the Investment Manager in 2014. Mr. Patel began his investment career in 2001 and earned a B.S.
from North Carolina State University, an M.S. from the University of Colorado, Boulder, and an M.B.A. from the
Anderson School of Management at the University of California, Los Angeles.
Dr. Pramanick
joined the Investment Manager in 2012. Dr. Pramanick began his investment career in 1993 and
earned a B.S. from the National Institute of Technology, an M.S. from the University of Oregon and a Ph.D. from North
Carolina State University.
Transfer Agent and Registrar
Equiniti Trust Company, LLC, serves as the Fund’s transfer agent
,
registrar and
dividend-paying agent, and
is located
at 48 Wall Street, Floor 23, New York, NY 10005.
Distributor
ALPS Distributors, Inc., serves as the Fund’s distributor in connection with the offer and sale of Common Shares
described above in “The Fund Offering” and “Plan of Distribution of Common Shares”, and is located at 1290
Broadway, Suite 1000, Denver, CO 80203.
Custodian
JPMorgan Chase, N.A. serves as custodian for the Fund’s portfolio securities and is located at 1 Chase Manhattan
Plaza, New York, NY 10005. It also maintains, under the general supervision of the Investment Manager, the
accounting records and determines the NAV for the Fund.
Affiliated Brokerage
The Fund may pay brokerage commission to brokers affiliated with the Fund’s Investment Manager. The Investment
Manager will use an affiliate only if (i) the Investment Manager determines that the Fund will receive prices and
executions at least as favorable, under the circumstances, as those offered by qualified independent brokers
performing similar brokerage and other services for the Fund and (ii) the affiliate charges the Fund commission rates
consistent with those the affiliate charges comparable unaffiliated customers in similar transactions and if such use
is consistent with terms of the management agreement. See the
Brokerage Allocation and Related Practices
section
of the SAI for more information.
Control Persons
To the knowledge of the Fund, no person
directly or indirectly
beneficially owned 25% or more of the Fund’s
outstanding securities as of
September 30
, 2024.
Prospectus 2024
28
Columbia Seligman Premium Technology Growth Fund, Inc.
More Information About the Fund
(continued)
Other Roles and Relationships of Ameriprise Financial and its Affiliates – Certain
Conflicts of Interest
The Investment Manager provides various services to the Fund and other Columbia Funds for which it is
compensated. Ameriprise Financial and its affiliates may also provide other services to these funds and be
compensated for them.
The Investment Manager and its affiliates may provide investment advisory and other services to other clients and
customers substantially similar to those provided to the Columbia Funds. These activities, and other financial
services activities of Ameriprise Financial and its affiliates, may present actual and potential conflicts of interest and
introduce certain investment constraints.
Ameriprise Financial is a major financial services company, engaged in a broad range of financial activities beyond
the fund-related activities of the Investment Manager, including, among others, insurance, broker-dealer (sales and
trading), asset management, banking and other financial activities. These additional activities may involve multiple
advisory, financial, insurance and other interests in securities and other instruments, and in companies that issue
securities and other instruments, that may be bought, sold or held by the Columbia Funds.
Conflicts of interest and limitations that could affect a Columbia Fund may arise from, for example, the following:
■
compensation and other benefits received by the Investment Manager and other Ameriprise Financial affiliates
related to the management/administration of a Columbia Fund and the sale of its shares;
■
the allocation of, and competition for, investment opportunities among the Fund, other funds and accounts
advised/managed by the Investment Manager and other Ameriprise Financial affiliates, or Ameriprise Financial
itself and its affiliates;
■
separate and potentially divergent management of a Columbia Fund and other funds and accounts
advised/managed by the Investment Manager and other Ameriprise Financial affiliates;
■
regulatory and other investment restrictions on investment activities of the Investment Manager and other
Ameriprise Financial affiliates and accounts advised/managed by them;
■
insurance and other relationships of Ameriprise Financial affiliates with companies and other entities in which a
Columbia Fund invests; and
■
regulatory and other restrictions relating to the sharing of information between Ameriprise Financial and its
affiliates, including the Investment Manager, and a Columbia Fund.
The Investment Manager and Ameriprise Financial have adopted various policies and procedures that are intended to
identify, monitor and address conflicts of interest. However, there is no assurance that these policies, procedures
and disclosures will be effective.
Additional information about Ameriprise Financial and the types of conflicts of interest and other matters referenced
above is set forth in the
Investment Management and Other Services — Other Roles and Relationships of Ameriprise
Financial and its Affiliates — Certain Conflicts of Interest
section of the SAI. Investors in the Columbia Funds should
carefully review these disclosures and consult with their financial advisor if they have any questions.
Certain Legal Matters
Ameriprise Financial and certain of its affiliates are involved in the normal course of business in legal proceedings
which include regulatory inquiries, arbitration and litigation, including class actions concerning matters arising in
connection with the conduct of their activities as part of a diversified financial services firm. Ameriprise Financial
believes that the Fund is not currently the subject of, and that neither Ameriprise Financial nor any of its affiliates are
the subject of, any pending legal, arbitration or regulatory proceedings that are likely to have a material adverse
effect on the Fund or the ability of Ameriprise Financial or its affiliates to perform under their contracts with the Fund.
Information regarding certain pending and settled legal proceedings may be found in the Fund’s stockholder reports
29
Prospectus 2024
Columbia Seligman Premium Technology Growth Fund, Inc.
More Information About the Fund
(continued)
and in the SAI. Additionally, Ameriprise Financial is required to make quarterly (10-Q), annual (10-K) and, as
necessary, 8-K filings with the SEC on legal and regulatory matters that relate to Ameriprise Financial and its
affiliates. Copies of these filings may be obtained by accessing the SEC website at sec.gov.
Reports to Stockholders
The Fund will send to Common Stockholders unaudited semi-annual and audited annual reports, including a list of
investments held.
Anti-Takeover and Other Provisions of the Maryland General Corporation Law and the
Fund’s Charter and Bylaws
The Fund’s charter includes provisions that could limit the ability of other entities or persons to acquire control of the
Fund, to cause it to engage in certain transactions or to modify its structure.
Under Maryland law, a Maryland corporation such as the Fund generally cannot dissolve, amend its charter, merge,
sell all or substantially all of its assets, convert into another form of entity, engage in a share exchange or engage in
similar transactions outside the ordinary course of business, unless declared advisable by the Board and approved
by the affirmative vote of stockholders entitled to cast at least two-thirds of the votes entitled to be cast on the
matter. A Maryland corporation may, however, provide in its charter for approval of these matters by a different
percentage, but not less than a majority of all of the votes entitled to be cast on the matter. Subject to certain
exceptions described below, any such action will be effective and valid if declared advisable by the Board and
approved by the affirmative vote of the holders of a majority of the votes entitled to be cast on the matter.
The Fund’s charter provides that the liquidation or dissolution of the Fund, any merger, consolidation, share exchange
or sale or exchange of all or substantially all of the assets of the Fund that requires the approval of the Fund’s
stockholders under the Maryland General Corporation Law (“MGCL”), certain transactions between the Fund and any
person or group of persons acting together and any person controlling, controlled by or under common control with
any such person or member of such group, that may exercise or direct the exercise of 10% or more of the voting
power of the Fund (an “Interested Transaction”), any amendment to the Fund’s charter that would convert the Fund
from a closed-end investment company to an open end investment company or otherwise make the Fund’s Common
Shares a redeemable security and any amendment to certain provisions of the Fund’s charter, including the
provisions relating to the Fund’s business as a closed-end management investment company and the number,
qualifications, classification, election and removal of directors, and the vote required to amend such provisions,
requires the approval of the stockholders entitled to cast at least 80% of the votes entitled to be cast on such
matter. If such a proposal is approved by at least two-thirds of the Fund’s Continuing Directors (in addition to
approval by the full Board of Directors), however, such proposal may be approved by the stockholders entitled to cast
a majority of the votes entitled to be cast on such matter, provided, that, with respect to any Interested Transaction,
no stockholder approval is required if such transaction is approved by at least two-thirds of the Fund’s Continuing
Directors, unless the MGCL requires such approval. The “Continuing Directors” are defined in the Fund’s charter as
(i) the directors identified in the Fund’s charter, (ii) those directors whose nomination for election by the stockholders
or whose election by the directors to fill vacancies is approved by a majority of the directors identified in the Fund’s
charter and (iii) any successor directors whose nomination for election by the stockholders or whose election by the
directors to fill vacancies is approved by a majority of the Continuing Directors then in office. This provision could
make it more difficult for certain extraordinary transactions to be approved if they are opposed by the Continuing
Directors, and discourage proxy contests for control of the Fund’s Board by persons wishing to cause such
transactions to take place. The Fund’s charter and Bylaws provide that the Board of Directors will have the exclusive
power to adopt, alter or repeal any provision of the Fund’s Bylaws or to make new Bylaws.
The voting provisions described above could have the effect of depriving stockholders of an opportunity to sell their
Common Shares at a premium over prevailing market prices by discouraging a third party from seeking to obtain
control of the Fund in a tender offer or similar transaction. In the view of the Fund’s Board, however, these provisions
offer several possible advantages, including:
(1) requiring persons seeking control of the Fund to negotiate with its
management regarding the price to be paid for the amount of Common Shares required to obtain control;
(2)
Prospectus 2024
30
Columbia Seligman Premium Technology Growth Fund, Inc.
More Information About the Fund
(continued)
promoting continuity and stability; and (3) enhancing the Fund’s ability to pursue long-term strategies that are
consistent with its investment objectives and management policies. The Board has determined that the voting
requirements under the Fund’s charter described above, which are generally greater than the minimum requirements
under the 1940 Act and Maryland law, are in the best interests of the Fund’s stockholders generally. See “Certain
Provisions of the Fund’s Charter and Bylaws” in the SAI for a more detailed summary of these provisions.
The Board of Directors may from time to time grant other voting rights to stockholders with respect to these and
other matters in the Fund’s Bylaws.
Maryland law permits a Maryland corporation to include in its charter a provision eliminating the liability of its
directors and officers to the corporation and its stockholders for money damages, except for liability resulting from (a)
actual receipt of an improper benefit or profit in money, property or services or (b) active and deliberate dishonesty
that is established by a final judgment and is material to the cause of action. The Fund’s charter contains such a
provision which eliminates directors’ and officers’ liability to the maximum extent permitted by Maryland law, subject
to the requirements of the 1940 Act.
The foregoing
is
intended only as a summary
of the Fund’s charter and Bylaws, both of which are on file with the
SEC.
31
Prospectus 2024
Columbia Seligman Premium Technology Growth Fund, Inc.
Capital Stock
Description of Capital Stock
The Fund currently has outstanding Common Shares. Each outstanding Common Share entitles the holder thereof to
one vote on all matters submitted to a vote of the Common Stockholders, including the election of directors. Because
the Fund currently has no other classes or series of stock outstanding, the holders of Common Shares possess
exclusive voting power. All of the Fund’s Common Shares have equal dividend, liquidation, voting and other rights.
The Fund’s Common Stockholders have no preference, conversion, redemption, exchange, sinking fund rights,
generally have no appraisal rights and have no preemptive rights to subscribe for any of the Fund’s securities.
Although the Fund has no current intention to do so, the Fund is authorized and reserves the flexibility to use
leverage to increase its investments or for other management activities through the issuance of preferred stock
and/or borrowings. The costs of issuing preferred stock and/or a borrowing program would be borne by Common
Stockholders and consequently would result in a reduction of net asset value of Common Shares.
The Fund is a closed-end management investment company and, as such, its Common Stockholders will not have the
right to cause the Fund to redeem their shares. Instead, the Common Shares will trade in the open market at a price
that will be a function of several factors, including financial leverage, dividend levels (which are in turn affected by
expenses), net asset value, call protection, dividend stability, portfolio credit quality, relative demand for and supply
of such shares in the market, general market and economic conditions and other factors, as applicable. Shares of a
closed-end management investment company may frequently trade at prices lower than net asset value.
Dividend Rights
Common Stockholders are entitled to receive dividends only if and to the extent declared and only after such
provisions have been made for working capital and for reserves as the Board may deem advisable. For more
information about distributions, see
Capital Stock – Distributions and Taxes – Distributions
below.
Voting Rights
The Common Shares are entitled to one vote per share at all meetings of Common Stockholders
(with fractional
shares entitled to a proportionate fractional vote)
. Notwithstanding any provision of law requiring any action to be
taken or authorized by the affirmative vote of the holders of a designated portion of all the shares or of the shares of
each class, such action shall be effective if taken or authorized by the affirmative vote of a majority of the aggregate
number of the votes entitled to vote thereon. Fundamental investment policies cannot be changed without the
approval of the holders of a majority of the outstanding shares of the Fund. The term “majority of the outstanding
shares” means the vote of (i) 67% or more of a Fund’s shares present at a meeting, if more than 50% of the
outstanding shares of the Fund are present or represented by proxy, or (ii) more than 50% of a Fund’s outstanding
shares, whichever is less.
The Fund’s charter provides that the liquidation or dissolution of the Fund, any merger, consolidation, share exchange
or sale or exchange of all or substantially all of the assets of the Fund that requires the approval of the Fund’s
stockholders under the MGCL,
interested transactions
, any amendment to the Fund’s charter that would convert the
Fund from a closed-end investment company to an open end investment company or otherwise make the Fund’s
Common Shares a redeemable security and any amendment to certain provisions of the Fund’s charter, including the
provisions relating to the Fund’s business as a closed-end management investment company and the number,
qualifications, classification, election and removal of directors, and the vote required to amend such provisions,
requires the approval of the stockholders entitled to cast at least 80% of the votes entitled to be cast on such
matter. If such a proposal is approved by at least two-thirds of the Fund’s Continuing Directors (in addition to
approval by the full Board of Directors), however, such proposal may be approved by the stockholders entitled to cast
a majority of the votes entitled to be cast on such matter, provided, that, with respect to any Interested Transaction,
no stockholder approval is required if such transaction is approved by at least two-thirds of the Fund’s Continuing
Directors, unless the MGCL requires such approval. This could have the effect of delaying, deferring or preventing
changes in control of the Fund.
Prospectus 2024
32
Columbia Seligman Premium
Technology
Growth Fund, Inc.
Capital Stock
(continued)
Liquidation Rights
In the event of any voluntary or involuntary liquidation, dissolution or winding up of the Fund, the Common
Stockholders are entitled to share ratably in all the remaining assets of the Fund available for distribution to Common
Stockholders.
Other Provisions
Common Stockholders do not have preemptive, subscription or conversion rights, and are not liable for further calls
or assessments. The Fund’s Board is classified as nearly as equal as possible into three equal classes with a
maximum three-year term so that the term of one class of directors expires at each annual meeting. Each director is
elected by the affirmative vote of the holders of the majority of the shares of stock outstanding and entitled to vote
thereon. Such classification provides continuity of experience and stability of the Board while providing for the
election of a portion of the Board each year. Such classification could have the effect of delaying, deferring or
preventing changes in control of the Fund.
Derivative and Direct Claims of Stockholders
The Fund’s Bylaws contain provisions regarding derivative and direct claims of stockholders. The Bylaws define a
“direct” stockholder claim as (i) a claim based upon alleged violations of a stockholder’s individual rights
independent of any harm to the Fund, including a stockholder’s voting rights under the Bylaws; rights to receive a
dividend payment as may be declared from time to time, rights to inspect books and records, or other similar rights
personal to the stockholder and independent of any harm to the Fund, and (ii) a claim for which an action is provided
under the federal securities laws or by state statute. The Bylaws define any other claim asserted by a stockholder,
including without limitation any claims purporting to be brought on behalf of the Fund or involving any alleged harm to
the Fund, as a “derivative” claim.
The Bylaws state that a stockholder may not bring or maintain any court action or other proceeding asserting a direct
claim against the Fund, the directors, or officers if it constitutes a “derivative” claim as defined in the Bylaws. The
Bylaws state that a stockholder may not bring or maintain any court action or other proceeding asserting a derivative
claim or any claim asserted on behalf of the Fund or involving any alleged harm to the Fund without first making
demand on the directors requesting the directors to bring or maintain such action, proceeding or claim. The Bylaws
further state that demand shall not be excused under any circumstances, including claims of alleged interest on the
part of the directors, unless the stockholder makes a specific showing that irreparable nonmonetary injury to the
Fund would otherwise result.
The Bylaws provide that the directors shall consider any demand or request within 90 days of its receipt by the Fund
or inform claimants within such time that further review and consideration is required, in which case the directors
shall have an additional 120 days to respond. The Bylaws further provide that the directors may submit the matter to
a vote of stockholders of the Fund or of any series or class of shares, as appropriate, in their sole discretion. The
Bylaws state that any decision by the directors to bring, maintain or settle (or not to bring, maintain or settle) such
court action, proceeding or claim, or to submit the matter to a vote of stockholders, shall be binding upon the
stockholders; provided, however, that such decision by the directors does not apply to claims arising under the
federal securities laws.
These provisions may limit a stockholder’s ability to bring a claim against the directors, officers or other employees
of the Fund and/or its service providers.
Distributions and Taxes
The Fund intends to continue to qualify and be treated as a regulated investment company under the Internal
Revenue Code. As a regulated investment company, the Fund will generally not be subject to federal income taxes on
its investment company taxable income and net capital gains realized during the year, if any, which it distributes to
stockholders, provided that at least 90% of its investment company taxable income (which includes net short-term
capital gains) is distributed to stockholders each year, among other requirements.
33
Prospectus 2024
Columbia Seligman Premium Technology Growth Fund, Inc.
Capital Stock
(continued)
Qualification as a regulated investment company does not involve governmental supervision of management or
investment practices or policies. Investors should consult their own advisors for a complete understanding of the
requirements the Fund must meet to qualify for such treatment. The information set forth below relates solely to
certain U.S. Federal tax matters applicable to the Fund and its U.S. stockholders, and assumes that the Fund
qualifies as a regulated investment company.
If for any year the Fund does not qualify as a regulated investment company, all of its taxable income (including its
net capital gain) will be subject to tax at the corporate tax rate without any deduction for distributions to stockholders.
Such distributions would generally be taxable to the stockholders as qualified dividend income and generally would be
eligible for the dividends received deduction in the case of corporate stockholders.
Distributions
The Fund adopted a managed distribution policy (the Distribution Policy) that relies upon an exemptive order obtained
from the SEC permitting the Fund to distribute long-term capital gains more often than once in any one taxable year.
The Fund paid its first dividend under the Fund’s managed distribution policy in November 2010. Under the
Distribution Policy, the Fund intends to make quarterly distributions to Common Stockholders, as authorized by the
Board, from legally-available funds, at a rate that reflects the past and projected performance of the Fund. The
Fund’s Board of Directors (the Board) may modify or terminate the Distribution Policy at any time; any such change or
termination may have an adverse effect on the market price for Common Shares.
To the extent that the Fund’s taxable income in any fiscal year exceeds the aggregate amount distributed pursuant to
the Distribution Policy based on a fixed percentage of its NAV, if authorized by the Board, the Fund intends to make
an additional distribution in the amount of that excess near the end of the fiscal year from legally-available funds. The
Fund expects to receive all or some of its current income and gains from the following sources: (i) dividends received
by the Fund that are paid on the equity securities (generally common stocks, but can also include preferred stocks) in
its portfolio; and (ii) capital gains (short-term and long-term) from option premiums and the sale of portfolio
securities. It is possible that the Fund’s distributions will at times exceed the earnings and profits of the Fund and
therefore all or a portion of such distributions may constitute a return of capital. A return of capital is a return of a
portion of an investor’s original investment. A return of capital is not taxable, but it reduces a Stockholder’s tax basis
in his or her shares, thus reducing any loss or increasing any gain on a subsequent taxable disposition by the
Stockholder of his or her shares. Capital return to stockholders through distributions will be distributed after the
payment of Fund fees and expenses. Distributions may vary, and the Fund’s distribution rate will depend on a number
of factors, including the net earnings on the Fund’s portfolio investments and the rate at which such net earnings
change as a result of changes in the timing of, and rates at which, the Fund receives income from the sources
described above. The net investment income of the Fund consists of all income (other than net short-term and long-term
capital gains) less all expenses of the Fund. The Board of Directors may change the Fund’s distribution policy
and the amount or timing of the distributions, based on a number of factors, including, but not limited to, as the
Fund’s portfolio and market conditions change, the amount of the Fund’s undistributed net investment income and
net short- and long-term capital gains and historical and projected net investment income and net short- and long-term
capital gains. Over time, the Fund intends to distribute all of its net investment income and net short-term
capital gains. In addition, at least annually, the Fund intends to distribute any net capital gain (which is the excess of
net long-term capital gain over net short-term capital loss) or, alternatively, to retain all or a portion of the year’s net
capital gain and pay federal income tax on the retained gain.
The SEC exemptive order permitting the adoption of the Fund’s managed distribution policy requires the Fund to
adhere to certain conditions with respect to public offerings. The SEC exemptive order requires that the Fund will not
make a public offering of Common Shares other than: (i) a rights offering that is below NAV to holders of the Common
Shares; (ii) an offering in connection with a dividend reinvestment plan, merger, consolidation, acquisition, spin off or
reorganization of the Fund; or (iii) an offering other than as noted in (i) or (ii) above in which the Fund’s annualized
distribution rate for the six months ending on the last day of the month ended immediately prior to the most recent
distribution record date, expressed as a percentage of NAV as of such date, is no more than 1 percentage point
greater than the Fund’s average annual total return for the 5-year period ending on such date and the transmittal
Prospectus 2024
34
Columbia Seligman Premium Technology Growth Fund, Inc.
Capital Stock
(continued)
letter accompanying any registration statement filed with the SEC in connection with the offering discloses that the
Fund has a managed distribution policy exemptive order. Any offering of Common Shares will comply with the
conditions of the SEC exemptive order.
Taxes on Distributions
Dividends from net investment income, if any, are declared and paid quarterly. While the Fund intends to make
quarterly level distributions, it is possible that the Fund may also pay a special distribution at the end of the calendar
year to comply with federal tax requirements. In general, your distributions are subject to federal income tax when
they are paid, whether you take them in cash or reinvest them in the Fund. Dividends paid out of the Fund's income
and net short-term capital gains, if any, are taxable as ordinary income. Distributions of net long-term capital gains, if
any, in excess of net short-term capital losses are taxable as long-term capital gains, regardless of how long you
have held your Common Shares.
Individual stockholders will be subject to federal income tax on distributions reported by the Fund as capital gains
dividends at preferential rates (0%, 15%, or 20%). Net capital gain of a corporate stockholder is taxed at the same
rate as ordinary income.
Distributions in excess of the Fund's current and accumulated earnings and profits are treated as a tax-free return of
capital to the extent of your basis in your Common Shares, and as capital gain thereafter. A distribution will reduce
the Fund's net asset value per Common Share and may be taxable to you as ordinary income or capital gain even
though, from an investment standpoint, the distribution may constitute a return of capital.
Some of the Fund's investments and positions may be subject to special tax rules that may change the normal
treatment of income, gains and losses recognized by the Fund (for example, the calls written by the Fund on the
Nasdaq 100, and investments in futures transactions or non-U.S. corporations classified as “passive foreign
investment companies”). Those special tax rules can, among other things, affect the treatment of capital gain or loss
as long-term or short-term and may result in ordinary income or loss rather than capital gain or loss. The application
of these special rules could therefore also affect the character of distributions made by the Fund and may increase
the amount of taxes payable by Common Stockholders.
Each January, you will be sent information on the tax status of any distributions made during the previous calendar
year. Because each Common Stockholder's situation is unique, you should always consult
your
tax adviser
concerning the effect income taxes may have on your individual investment.
The securities in which the Fund invest may not provide complete tax information to the Fund as to the tax character
of the dividends distributed by such company (e.g., income, capital gain or return of capital) until after the calendar
year end. Consequently, because of such delay, it may be necessary for the Fund to request permission to extend the
deadline for the issuance of a Form 1099-DIV until after January 31 or to issue a revised Form 1099-DIV after
January 31. Further, the tax treatment of distributions reported on Form 1099-DIV may differ from the
characterization of distributions provided at the time the distribution was made.
Taxes on Sales of Shares
When you sell your Common Shares, any gain or loss you realize will generally be treated as a long­ term capital gain
or loss if you held your Common Shares for more than one year, or as a short-term capital gain or loss if you held
your Common Shares for one year or less. The ability to deduct capital losses may be limited. However, if you sell
your Common Shares on which a long-term capital gain distribution has been received (or on which amounts have
been designated as undistributed capital gains) and you held the shares for six months or less, any loss you realize
will be treated as a long-term capital loss to the extent of the long-term capital gain distribution (or amounts
designated as undistributed capital gains) with respect to the Common Shares. A loss realized on a sale or exchange
of Common Shares of the Fund may be disallowed if other substantially identical shares are acquired within a 61-day
period beginning 30 days before and ending 30 days after the date of which the Common Shares are disposed. In
that case, the basis in the newly purchased shares will be adjusted to reflect the disallowed loss.
The information provided above is only a summary of certain U.S. federal tax matters that may affect your investment
in Common Shares. It is not intended as a substitute for careful tax planning. Your investment in Common Shares
may have other tax implications. The information above does not apply to certain types of investors who may be
35
Prospectus 2024
Columbia Seligman Premium Technology Growth Fund, Inc.
Capital Stock
(continued)
subject to special rules, including foreign or tax-exempt investors or those holding Common Shares through a tax-advantaged
account, such as a 401(k) plan or IRA. You should consult with your own tax advisor about the particular
tax consequences to you of an investment in Common Shares, including the effect of any foreign, state and local
taxes, and the effect of possible changes in applicable tax laws.
Prospectus 2024
36
Columbia Seligman Premium Technology Growth Fund, Inc.
Computation of Net Asset Value
The Fund calculates the NAV per share of Common Shares at the end of each business day, with the value of the
Fund’s Common Shares based on the total value of all of the securities and other assets that it holds as of a
specified time.
 
FUNDamentals
NAV Calculation
NAV per Common Shares is calculated as follows:
NAV per share =
 
(Value of assets of the Fund) – (Liabilities of the Fund)

Number of outstanding Common Shares
 
 
FUNDamentals
Business Days
A business day is any day that the New York Stock Exchange (NYSE) is open. A business day typically ends at the
close of regular trading on the NYSE, usually at 4:00 p.m. Eastern time. If the NYSE is scheduled to close early,
the business day will be considered to end as of the time of the NYSE’s scheduled close. The Fund will not treat
an intraday unscheduled disruption in NYSE trading or an intraday unscheduled closing as a close of regular
trading on the NYSE for these purposes and will price its shares as of the regularly scheduled closing time for
that day (typically, 4:00 p.m. Eastern time). Nonetheless, the NAV of Fund shares may be determined at such
other time or times (in addition to or in lieu of the time set forth above) as the Fund’s Board may approve or
ratify. On holidays and other days when the NYSE is closed, the Fund’s NAV is not calculated and the Fund does
not accept buy or sell orders. However, the value of the Fund’s assets may still be affected on such days to the
extent that the Fund holds foreign securities that trade on days that foreign securities markets are open.
 
Equity securities listed on an exchange are typically valued at the closing price or last trade on their primary exchange
at the close of business of the NYSE. Equity securities without a readily available closing price or that are not listed
on any exchange are typically valued at the mean between the closing bid and asked prices. Other equity securities,
debt securities and other assets are valued differently. For instance, bank loans trading in the secondary market are
fair valued unless market quotations are readily available, fixed income investments maturing in 60 days or less are
valued primarily using the amortized cost method, unless this methodology results in a valuation that does not
approximate the market value of these securities, and those maturing in excess of 60 days are valued based on
prices obtained from a pricing service, if available (which may represent market values or fair values). Investments in
open-end funds are valued at their published NAVs. The value of the Fund’s portfolio securities is determined in
accordance with the valuation policy approved by the Board (the Valuation Policy). Pursuant to Rule 2a-5 under the
1940 Act, the Board has designated the Investment Manager as the Fund’s valuation designee. The Investment
Manager, in turn, has authorized its valuation committee to make fair value determinations and to carry out
supervisory and certain other functions relating to the valuation of Fund portfolio securities, pursuant to the Valuation
Policy.
If a market price is not readily available or is deemed not to reflect market value for a portfolio security, the
Investment Manager will determine the price based on a determination of the security's fair value pursuant to the
Valuation Policy. In addition, the Investment Manager may use fair valuation techniques to price securities that trade
on a foreign exchange when a significant event has occurred after the foreign exchange closes but before the time at
which the Fund’s share price is calculated. Foreign exchanges typically close before the time at which Fund share
prices are calculated, and may be closed altogether on days when the Fund is open. Such significant events affecting
a foreign security may include, but are not limited to: (1) corporate actions, earnings announcements, litigation or
other events impacting a single issuer; (2) governmental action that affects securities in one sector or country; (3)
natural disasters or armed conflicts affecting a country or region; or (4) significant domestic or foreign market
fluctuations. The Fund uses various criteria, including an evaluation of U.S. market moves after the close of foreign
markets, in determining whether a foreign security's market price is readily available and reflective of market value
37
Prospectus 2024
Columbia Seligman Premium Technology Growth Fund, Inc.
Computation of Net Asset Value
(continued)
and, if not, the fair value of the security.
To the extent the Fund has significant holdings of small cap stocks, high-yield
bonds, floating rate loans, or tax-exempt, foreign or other securities that may trade infrequently, fair valuation
may be used more frequently than for other funds.
Fair valuation may have the effect of reducing stale pricing arbitrage opportunities presented by the pricing of Fund
shares. However, when the Investment Manager uses fair valuation to price equity securities, it may value those
securities higher or lower than another fund or manager would. Also, fair valuation of Fund holdings may cause the
Fund's performance to diverge to a greater degree from the performance of various benchmark indices used to
compare the Fund's performance because indices generally do not use fair valuation techniques. Because of the
judgment involved in fair valuation decisions, there can be no assurance that the value ascribed to a particular
security is accurate.
The Fund has retained one or more independent fair valuation pricing services to assist in the
fair valuation process for foreign securities.
Futures and options on futures are valued based upon the settlement price as determined by the principal exchange
on which they are traded or, in the absence of a settlement price, at the mean of the closing bid and ask. Generally,
over-the-counter derivatives, such as swaps and swaptions, are valued based on a price provided by an approved
pricing service.
The Fund currently intends to make open market purchases of its Common Shares from time to time when Common
Shares are trading at a discount to NAV, in an amount approximately sufficient to offset the growth in the number of
Common Shares attributable to the reinvestment of the portion of its distributions to Common Stockholders that are
attributable to distributions received from portfolio investments less Fund expenses. Assets of the Fund used to
repurchase Common Shares are not available for investment in accordance with the Fund's investment objectives
and strategies.
Prospectus 2024
38
Columbia Seligman Premium Technology Growth Fund, Inc.
Dividend Investment Plan and Stock Repurchase Program
In addition to purchasing Fund Common Shares as described under “The Fund Offering” and “Plan of Distribution of
Common Shares” in this Prospectus, Fund Common Stockholders can also acquire Common Shares through the
Fund’s Dividend Investment Plan, as described below. The Fund also repurchases its Common Shares in the open
market as noted below under “Stock Repurchase Program.”
Dividend Investment Plan
Pursuant to the Fund's Dividend Investment Plan (the Plan), unless a Common Stockholder elects otherwise, all cash
dividends, capital gains distributions, and other distributions are automatically reinvested in additional Common
Shares. Common Stockholders who elect not to participate in the Plan (including those whose intermediaries do not
permit participation in the Plan by their customers) will receive all dividends and distributions payable in cash directly
to the Common Stockholder of record (or, if the Common Shares are held in street or other nominee name, then to
such nominee) as dividend paying agent. Common Stockholders may elect not to participate in the Plan and to
receive all distributions of dividends and capital gains or other distributions in cash by sending written instructions to
the Transfer Agent. Participation in the Plan may be terminated or resumed at any time without penalty by written
notice if received by the Transfer Agent prior to the record date for the next distribution. Otherwise, such termination
or resumption will be effective with respect to any subsequently declared distribution.
Under the Plan, Common Stockholders receive Common Shares
,
which may include fractional shares,
in lieu of cash
distributions unless they have elected otherwise as described in the preceding paragraph. Common Shares
and any
fractional shares, as applicable,
will be issued in lieu of cash by the Fund from previously authorized but unissued
Common Shares. If the market price of a share on the ex-dividend date of such a distribution is at or above the
Fund's net asset value per share on such date, the number of shares to be issued by the Fund to each Common
Stockholder receiving shares in lieu of cash distributions will be determined by dividing the amount of the cash
distribution to which such Common Stockholder would be entitled by the greater of the net asset value per share on
such date or 95% of the market price of a share on such date. If the market price of a share on such an ex-dividend
date is below the net asset value per share, the number of shares to be issued to such Common Stockholders will be
determined by dividing such amount by the per share market price. The issuance of Common Shares at less than net
asset value per share will dilute the net asset value of all Common Shares outstanding at that time. Market price on
any day means the closing price for the Common Shares at the close of regular trading on the New York Stock
Exchange on such day or, if such day is not a day on which the Common Shares trades, the closing price for the
Common Shares at the close of regular trading on the immediately preceding day on which trading occurs.
Common Stockholders who hold their shares in the name of a broker or other nominee should contact such broker or
other nominee to discuss the extent to which such nominee will permit their participation in the Plan. The Fund will
administer the Plan on the basis of the number of shares certified from time to time by nominees as representing the
total amount of shares held through such nominees by beneficial Common Stockholders who are participating in the
Plan and by delivering shares on behalf of such beneficial Common Stockholders to the nominees' accounts at The
Depository Trust Company.
The Transfer Agent will maintain all Common Stockholders' accounts in the Plan not held by The Depository Trust
Company and furnish written confirmation of all transactions in the account, including information needed by
Common Stockholders for tax records.
The automatic reinvestment of Fund distributions will not relieve Plan
participants of any federal, state or local income tax that may be payable (or required to be withheld) on such
distributions.
Shares in the account of each Plan participant will be held in non-certificated form in the name of the
participant, and each Common Stockholder's proxy will include those shares purchased or received pursuant to the
Plan.
An investor holding shares that participate in the Plan in a brokerage account may not be able to transfer the
shares to another broker and continue to participate in the Plan.
The Fund reserves the right to amend or terminate the Plan as applied to any distribution paid subsequent to written
notice of the change sent to participants in the Plan at least 90 days before the record date for such distribution.
There are currently no service or brokerage charges to participants in the Plan; however, the Fund reserves the right
to amend the Plan to include a service charge payable to the Fund by the participants. The Fund also reserves the
39
Prospectus 2024
Columbia Seligman Premium Technology Growth Fund, Inc.
Dividend Investment Plan and Stock Repurchase Program
(continued)
right to amend the Plan to provide for payment of brokerage fees by Plan participants in the event the Plan is
changed to provide for open market purchases of Common Shares on behalf of Plan participants. All correspondence
concerning the Plan should be directed to the Transfer Agent, 6201 15th Avenue, Brooklyn, NY 11219
or by calling
866.666.1532
.
Prospectus 2024
40
Columbia Seligman Premium Technology Growth Fund, Inc.
Dividend Investment Plan and Stock Repurchase Program
(continued)
Stock Repurchase Program
The Fund
may pay distributions to Common Stockholders that are
,
in whole or in part, attributable to distributions
received by the Fund from its underlying portfolio investments (Portfolio Company Distributions). The Fund,
under its
stock repurchase program, currently intends to make open market purchases of its Common Shares from time to
time when Common Shares are trading at a discount to NAV per share, in an amount approximately sufficient to
offset the growth in the number of Common Shares issued as a result of
Common Stockholders reinvesting Fund
distributions,
but only with respect to any portion of the Fund distribution constituting Portfolio Company Distributions
less Fund expenses.
Subject to its investment limitations,
the Fund
may borrow to finance the repurchase of shares.
Interest on any borrowings to finance share repurchase transactions or the accumulation of cash by the Fund in
anticipation of share repurchases will reduce
the Fund’s
net income.
Any share repurchase or borrowing would have
to comply with the Exchange Act and the 1940 Act and the rules and regulations thereunder
.
The Fund has no
present intention to borrow in order to finance any repurchase of Common Shares.
REPURCHASE OF COMMON SHARES; TENDER OFFERS; CONVERSION TO OPEN-END
FUND
The Fund is a closed-end management investment company and, as such, its Common Stockholders will not have the
right to cause the Fund to redeem their shares. Instead, the Common Shares will trade in the open market at a price
that will be a function of several factors, including financial leverage, dividend levels (which are in turn affected by
expenses), net asset value, call protection, dividend stability, portfolio credit quality, relative demand for and supply
of such shares in the market, general market and economic conditions and other factors, as applicable. Shares of a
closed-end management investment company may frequently trade at prices lower than net asset value. The
Distributor and any Sub-Placement Agent are under no obligation to distribute Common Shares on a “best efforts” or
other such basis. The Fund will only authorize the issuance of Common Shares under this Prospectus as described
above under
Plan of Distribution of Common Shares
. The
Board will monitor the relationship between the market
price and net asset value of the Common Shares. If the Common Shares were to trade at a substantial discount to
NAV per share for an extended period of time, the Board may consider the repurchase of its Common Shares on the
open market or in private transactions, the making of a tender offer for such shares, or the conversion of the Fund to
an open-end management investment company, which would require approval by the stockholders. The Fund cannot
assure you that its Board will decide to consider, take or propose any of these actions, or that share repurchases or
tender offers will actually reduce market discount.
If the Fund converted to an open-end management investment company, it would be required to redeem any Fund
preferred shares then outstanding, if any (requiring in turn that it liquidate a portion of its investment portfolio), and
the Common Shares would be de-listed from the NYSE. In contrast to a closed-end management investment
company, shareholders of an open-end management investment company may require the company to redeem their
shares at any time (except in certain circumstances as authorized by or under the 1940 Act) at their net asset value,
less any redemption charge that is in effect at the time of redemption.
For a description of the requisite vote for
converting the Fund to an open-end management investment company, see the
Anti-Takeover and Other Provisions of
the Maryland General Corporation Law and the Fund’s Charter and Bylaws
section above.
Before deciding whether to take any action to convert the Fund to an open-end management investment company, the
Board would consider all relevant factors, including the extent and duration of the discount, the liquidity of the Fund's
portfolio, the Fund’s investment strategy, the additional flexibility afforded closed-end funds relative to open-end
funds under the 1940 Act, the impact of any action that might be taken on the Fund or its stockholders, and market
considerations. Based on these considerations, even if the Common Shares should trade at a discount, the Board
may determine that, in the interest of the Fund and its stockholders, no action should be taken. See the SAI under
"Repurchase of Common Shares; Tender Offers; Conversion to Open-End Fund" for a further discussion of possible
action in seeking to reduce or eliminate such discount to net asset value. Any such action may or not be successful
in mitigating or eliminating any Fund trading discount.
41
Prospectus 2024
Columbia Seligman Premium Technology Growth Fund, Inc.
Additional Information
Issuance of Common Shares in Connection with Acquisitions
The Fund may issue Common Shares in exchange for the assets of another investment company in transactions in
which the number of Common Shares to be delivered will be generally determined by dividing the current value of the
seller’s assets by the current per share NAV or market price on the Exchange of Common Shares, or by an
intermediate amount. In such acquisitions, the number of Fund Common Shares to be issued will not be determined
on the basis of the market price of such Common Shares if such price is lower than its NAV per share, except
pursuant to an appropriate order of the Securities and Exchange Commission or approval by stockholders of the
Fund, as required by law.
Some or all of the stock so issued may be sold from time to time by the recipients or their stockholders through
brokers in ordinary transactions on stock exchanges at current market prices. The Fund has been advised that such
sellers may be deemed to be underwriters as that term is defined in the 1933 Act.
Incorporation by Reference
As noted above, this Prospectus is part of a registration statement filed with the SEC. The Fund is permitted to
“incorporate by reference” the information filed with the SEC, which means that the Fund can disclose important
information to you by referring you to those documents. The information incorporated by reference is considered to
be part of this Prospectus
.


Any statement in a document incorporated by reference into this prospectus will be deemed to be automatically
modified or superseded to the extent a statement contained in this prospectus or any other subsequently filed
document that is incorporated by reference into this prospectus modifies or supersedes such statement
.
The documents listed below, and any reports and other documents subsequently filed with the SEC pursuant to Rule
30(b)(2) under the 1940 Act and Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act, prior to the termination of
the offering will be incorporated by reference into the Fund’s registration statement and deemed to be part of it from
the date of the filing of such reports and documents:
■
the Fund’s Statement of Additional Information, dated
November
15
, 2024, filed with this Prospectus;
■
the Fund’s
Semi-Annual Report on Form N-CSR
, filed on September 5, 2024;
■
the description of the Fund’s Common Shares contained in its Registration Statement on
Form N-8A
filed with
the SEC on September 4, 2009, including any amendment or report filed for the purpose of updating such
description prior to the termination of the offering registered hereby;
■
the Fund’s definitive
Proxy Statement
, dated April 22, 2024, filed with the SEC on April 22, 2024; and
■
the Fund’s Forms 8-K, filed on
February 9, 2024
,
March 14, 2024
,
May 3, 2024
,
June 25, 2024
, and
August 9, 2024
.
You may obtain copies of any information incorporated by reference into this Prospectus, at no charge, by writing to
the Transfer Agent at 48 Wall Street, Floor 23, New York, NY 10005 or calling toll-free the Transfer Agent at
866.666.1532. The Fund’s periodic reports filed pursuant to Section 30(b)(2) of the 1940 Act and Sections 13 and
15(d) of the Exchange Act, as well as the Prospectus and the Statement of Additional Information, are available on
the Fund’s website www.columbiathreadneedleus.com.
In addition, the SEC maintains a website at www.sec.gov, free
of charge, that contains these reports, the Fund’s proxy and information statements, and other information relating
to the Fund.
Legal Opinions and Experts
Certain legal matters in connection with the Common Shares will be passed upon for the Fund by Ropes & Gray LLP,
located at Prudential Tower, 800 Boylston St., Boston, MA 02199, which serves as legal counsel to the Fund and,
with respect to matters of Maryland law, by Venable LLP, located at 750 E. Pratt St., Suite 900, Baltimore, MD
21202.
Prospectus 2024
42
Columbia Seligman Premium Technology Growth Fund, Inc.
Additional Information
(continued)
PricewaterhouseCoopers LLP, an independent registered public accounting firm, provides auditing and tax services to
the Fund. The Fund’s financial statements as of and for the fiscal year ended December 31, 2023, incorporated by
reference in the SAI, have been incorporated in reliance on the report of PricewaterhouseCoopers LLP, an
independent registered public accounting firm, given on the authority of such firm as experts in auditing and
accounting.
Notes Regarding Forward-Looking Statements
Certain statements in this Prospectus and the SAI, including documents incorporated by reference herein and
therein, constitute forward-looking statements, which involve known and unknown risks, uncertainties and other
factors that may cause the actual results, levels of activity, performance or achievements of the Fund to be materially
different from any future results, levels of activity, performance or achievements expressed or implied by such
forward-looking statements. Such factors include, among others, those listed under “Principal Risks” and elsewhere
in this Prospectus. As a result of the foregoing and other factors, no assurance can be given as to the future results,
levels of activity or achievements
. Although the Fund believes that the expectations expressed in any forward-looking
statements are reasonable, actual results could differ materially from those expressed or implied in any forward-looking
statements. The Fund’s future financial condition and results of operations, as well as any forward-looking
statements, are subject to change and are subject to inherent risks and uncertainties, such as those disclosed in
the “Principal Risks” section of this Prospectus and in the “Information Regarding Risks” section of the SAI. You are
cautioned not to place undue reliance on these forward-looking statements. All forward-looking statements contained
or incorporated by reference in this Prospectus are made as of the date of this Prospectus. Except for the Fund’s
ongoing obligations under the federal securities laws, the Fund does not intend, and the Fund undertakes no
obligation, to update any forward-looking statement. The forward-looking statements contained in this Prospectus
and the SAI are
not afforded
the safe harbor protection provided by Section 27A of the 1933 Act. Currently known
risk factors that could cause actual results to differ materially from the Fund’s expectations include, but are not
limited to, the factors described in the “Principal Risk” section of this Prospectus and the “Information Regarding
Risks” section of the SAI. The Fund urges you to review carefully those sections for a more detailed discussion of the
risks of an investment in Common Shares.
Available Information
The Fund is subject to the informational requirements of the Securities Exchange Act of 1934, as amended (the
Exchange Act), and the 1940 Act and is required to file reports, including annual and semi-annual reports, proxy
statements and other information with the SEC. These documents are available on the SEC’s EDGAR system. This
Prospectus and the SAI do not contain all of the information in our registration statement, including amendments,
exhibits, and schedules that the Fund has filed with the SEC (File No. 333-
280485
). Statements in this Prospectus
about the contents of any contract or other document are not necessarily complete and in each instance reference is
made to the copy of the contract or other document filed as an exhibit to the registration statement
. Additional