This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Nuveen Investments Announces Completion Of Closed-End Fund Mergers

Stocks in this article: NFC NGK NGO NII NKG NNC NNO NPG NRB NTC NZX

Nuveen Investments, a leading global provider of investment services to institutions as well as individual investors, today announced that the mergers of certain Nuveen Connecticut, Georgia and North Carolina state municipal bond closed-end funds into three, larger state-specific funds were completed prior to the opening of business on July 9, 2012.

The closed-end funds have been merged as follows:

Acquired Fund   Symbol   Acquiring Fund   Symbol
  • Nuveen Connecticut Dividend Advantage Municipal Fund
  • Nuveen Connecticut Dividend Advantage Municipal Fund 2
  • Nuveen Connecticut Dividend Advantage Municipal Fund 3

NFC

NGK

NGO

Nuveen ConnecticutPremium IncomeMunicipal Fund

NTC
  • Nuveen Georgia Premium Income Municipal Fund
  • Nuveen Georgia Dividend Advantage Municipal Fund

NPG

NZX

Nuveen GeorgiaDividend AdvantageMunicipal 2 Fund

NKG
  • Nuveen North Carolina Dividend Advantage Municipal Fund
  • Nuveen North Carolina Dividend Advantage Municipal 2 Fund
  • Nuveen North Carolina Dividend Advantage Municipal 3 Fund

NRB

NNO

NII

Nuveen North CarolinaPremium IncomeMunicipal Fund

NNC

In the mergers, NTC, NKG and NNC acquired substantially all of the assets and liabilities of the respective state funds in a tax-free transaction in exchange for an equal aggregate value of newly-issued common shares. The exchanges took place based upon the funds’ closing net asset values on July 6, 2012. The exchange ratios at which common shares of each acquired fund were exchanged for common shares of the acquiring fund are listed below:

Fund   Exchange Ratio
Nuveen Connecticut Dividend Advantage Municipal Fund (NFC) 1.02226025 shares of NTC per NFC share
Nuveen Connecticut Dividend Advantage Municipal Fund 2 (NGK) 1.01134322 shares of NTC per NGK share
Nuveen Connecticut Dividend Advantage Municipal Fund 3 (NGO) 0.99211220 shares of NTC per NGO share
Fund   Exchange Ratio
Nuveen Georgia Premium Income Municipal Fund (NPG) 1.02315988 shares of NKG per NPG share
Nuveen Georgia Dividend Advantage Municipal Fund (NZX) 1.05933737 shares of NKG per NZX share
Fund   Exchange Ratio
Nuveen North Carolina Dividend Advantage Municipal Fund (NRB) 1.03581226 shares of NNC per NRB share
Nuveen North Carolina Dividend Advantage Municipal 2 Fund (NNO) 1.02649583 shares of NNC per NNO share
Nuveen North Carolina Dividend Advantage Municipal 3 Fund (NII) 1.00621968 shares of NNC per NNI share

MuniFund Term Preferred (MTP) shareholders of each acquired fund received an equivalent number of MTP shares based upon their liquidation preference of $10.00 per share.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs