Nuveen Investments Announces Completion Of Closed-End Fund Mergers
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 ConnecticutPremium IncomeMunicipal Fund
Nuveen GeorgiaDividend AdvantageMunicipal 2 Fund
Nuveen North CarolinaPremium IncomeMunicipal Fund
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:
|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|
|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|
|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.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
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.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
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.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV