IPO - RiverNorth Managed Duration Municipal Income Fund, Inc.

Form Type: N-2

Filing Date: 2024-08-08

Corporate Action: Ipo

Type: New

Accession Number: 000139834424014152

Filing Summary: RiverNorth Managed Duration Municipal Income Fund, Inc. filed a registration statement under the Securities Act and the Investment Company Act as of August 8, 2024, to offer up to $400 million in shares of common stock, preferred stock, and subscription rights. The Fund seeks to provide current income exempt from federal income taxes and aims for total return. Through its principal investment strategies, the Fund will invest mainly in municipal bonds and utilize leveraged techniques to enhance returns while maintaining compliance with regulatory requirements. The Fund has a limited term ending July 25, 2031, with provisions allowing potential extensions. The filing details the structure of the offerings, the rights associated, and potential risks, including credit risks of the underlying investments and the nature of investing in closed-end funds which may trade at discounts to NAV.