abrdn Income Credit Strategies Fund (ACP) and First Trust High Income Long/short Fund (FSD) Announce Closing of Reorganization
In the reorganization, common shareholders of FSD received an amount of ACP common shares with a net asset value equal to the aggregate net asset value of their holdings of FSD common shares, as determined at the close of regular business on
Relevant details pertaining to the reorganization are as follows:
Acquiring Fund |
Website for additional information |
|
Acquiring Fund NAV per Share ($)
|
Conversion Ratio |
ACP |
|
FSD |
6.6326 |
1.893482 |
There are no proposed changes to the current investment objective, strategies, structure, or policies of the
abrdn welcomes the FSD shareholders to the abrdn Fund family. As a leading global asset manager, abrdn is dedicated to creating long-term value for our clients. As of
Important Information
In
FTA is the supervisor of the
The information in this press release is for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities or the solicitation of any vote or approval in any jurisdiction pursuant to or in connection with the proposed transaction or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
Closed-end funds are traded on the secondary market through one of the stock exchanges. The Acquiring Fund’s investment return and principal value will fluctuate so that an investor’s shares may be worth more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount) the net asset value (NAV) of the fund’s portfolio. There is no assurance that the
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