Nuveen Municipal Closed-End Funds Announce Proposed Reorganizations and Shareholder Meeting Update
October 13 2022 - 4:15PM
Business Wire
The Boards of Trustees of Nuveen Ohio Quality Municipal Income
Fund (NYSE: NUO), Nuveen Georgia Quality Municipal Income Fund
(NYSE: NKG), and Nuveen Municipal Credit Income Fund (NYSE: NZF)
have approved a proposal to reorganize the funds. The proposed
reorganizations, if approved by shareholders, would combine NUO and
NKG into NZF. The reorganizations are intended to create a larger
fund with lower operating expenses, enhanced earnings potential,
and increased trading volume on the exchange for common shares.
The proposed reorganizations for the funds are subject to
certain conditions, including necessary approval by the funds’
shareholders. NUO and NZF will hold a Special Meeting of
Shareholders to consider approval of the reorganization proposal on
February 8, 2023. NKG will hold its 2023 Annual Meeting of
Shareholders to consider approval of the reorganization proposal
and to elect Board Members on February 8, 2023. Detailed
information on the proposed reorganizations and the candidates for
election to NKG’s Board will be contained in proxy materials
expected to be filed in the coming weeks.
To be considered for presentation at NKG’s 2023 Annual Meeting
of Shareholders, shareholder proposals submitted pursuant to Rule
14a-8 under the Securities Exchange Act of 1934 must be received at
the offices of that fund, 333 West Wacker Drive, Chicago, Illinois
60606, no later than October 28, 2022. A shareholder wishing to
provide notice in the manner prescribed by Rule 14a-4(c)(1) of a
proposal submitted outside of the process of Rule 14a-8 for NKG’s
2023 Annual Meeting of Shareholders must, pursuant to the fund’s
by-laws, submit such written notice to the fund no later than
November 10, 2022. Timely submission of a proposal does not mean
that such proposal will be included in a proxy statement.
Nuveen is a leading sponsor of closed-end funds (CEFs) with $57
billion of assets under management across 56 CEFs as of 30 Jun
2022. The funds offer exposure to a broad range of asset classes
and are designed for income-focused investors seeking regular
distributions. Nuveen has more than 35 years of experience managing
CEFs.
For more information, please visit Nuveen’s CEF homepage
www.nuveen.com/closed-end-funds.
About Nuveen
Nuveen, the investment manager of TIAA, offers a comprehensive
range of outcome-focused investment solutions designed to secure
the long-term financial goals of institutional and individual
investors. Nuveen has $1.1 trillion in assets under management as
of 30 Jun 2022 and operations in 27 countries. Its investment
specialists offer deep expertise across a comprehensive range of
traditional and alternative investments through a wide array of
vehicles and customized strategies. For more information, please
visit www.nuveen.com.
Nuveen Securities, LLC, member FINRA and SIPC.
The information contained on the Nuveen website is not a part of
this press release.
FORWARD-LOOKING STATEMENTS
Certain statements made or referenced in this release may be
forward-looking statements. Actual future results or occurrences
may differ significantly from those anticipated in any
forward-looking statements due to numerous factors. These include,
but are not limited to:
- market developments;
- legal and regulatory developments;
- the ability to satisfy conditions to the proposed
reorganizations; and
- other additional risks and uncertainties.
You should not place undue reliance on forward-looking
statements, which speak only as of the date they are made. Nuveen
and the closed-end funds managed by Nuveen and its affiliates
undertake no responsibility to update publicly or revise any
forward-looking statements.
The annual and semi-annual reports and other regulatory filings
of Nuveen closed-end funds with the Securities and Exchange
Commission (“SEC”) are accessible on the SEC’s web site at
www.sec.gov and on Nuveen’s web site at www.nuveen.com/cef and may
discuss the abovementioned or other factors that affect Nuveen
closed-end funds. The information contained on the Nuveen website
is not a part of this press release.
IMPORTANT INFORMATION
In connection with the reorganization proposal discussed herein,
the funds expect to file with the SEC solicitation materials in the
form of a proxy statement and/or a joint proxy statement/prospectus
that will be included in a registration statement on Form N-14.
After the registration statement is filed with the SEC, it may be
amended or withdrawn and the proxy statement and/or joint proxy
statement/prospectus will not be distributed to shareholders unless
and until the registration statement is declared effective by the
SEC. Investors are urged to read the solicitation materials and any
other relevant documents when they become available because they
will contain important information about the reorganization
proposal. After they are filed, free copies of the solicitation
materials will be available on the SEC’s web site at
www.sec.gov.
This communication is for informational purposes only and is not
a solicitation of a proxy from any fund shareholder and does not
constitute an offer of any securities for sale. No offer of
securities will be made except pursuant to a prospectus meeting the
requirements of Section 10 of the Securities Act of 1933. However,
the funds, Nuveen Fund Advisors and certain of their respective
directors/trustees, officers and affiliates may be deemed under the
rules of the SEC to be participants in the solicitation of proxies
from shareholders in connection with the reorganization proposal
discussed herein. Information about the directors/trustees and
officers of the funds may be found in their respective annual
reports previously filed with the SEC.
Fund shares are not guaranteed or endorsed by any bank or other
insured depository institution, and are not federally insured by
the Federal Deposit Insurance Corporation. Shares of closed-end
funds are subject to investment risks, including the possible loss
of principal invested. Past performance is no guarantee of future
results. Closed-end funds frequently trade at a discount to their
net asset value.
EPS-2470677PR-E1022W
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Financial Professionals: 800-752-8700
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Media: media-inquiries@nuveen.com
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