M&A - AB Active ETFs, Inc.

Form Type: 425

Filing Date: 2025-05-09

Corporate Action: Merger

Type: New

Accession Number: 000091957425002827

Filing Summary: AB Active ETFs, Inc. has filed a corporate action regarding the reorganization of its mutual funds, specifically the California Municipal Portfolio, New York Municipal Portfolio, and Bernstein Intermediate Duration Institutional Portfolio. At board meetings held from May 6 to May 8, 2025, it was approved to convert these portfolios into newly-created exchange-traded funds (ETFs). The conversion, which will not require shareholder approval, aims to provide shareholders with benefits including lower expenses, increased trading flexibility, and greater transparency. Each acquired portfolio will be converted into an ETF with identical investment objectives and strategies, and expected closing dates for the conversions range from October 3, 2025, to November 7, 2025. Shareholders need to hold their shares through a brokerage account that accepts ETF shares to partake in the conversion, otherwise, they will receive a cash redemption for their shares. The document emphasizes the tax-free nature of the conversions along with associated risks, costs, and instructions for investors regarding account requirements for the ETF shares.

Form Type: 425

Filing Date: 2025-05-09

Corporate Action: Merger

Type: New

Accession Number: 000091957425002828

Filing Summary: On May 9, 2025, AB Active ETFs, Inc. filed a supplement regarding the reorganization of its mutual funds into new exchange-traded funds (ETFs). The Boards of Directors of Sanford C. Bernstein Fund, Inc. and Sanford C. Bernstein Fund II, Inc. approved the conversion of existing mutual fund portfolios into ETFs, which will be managed by AllianceBernstein L.P. The conversion will affect the California Municipal Portfolio, New York Municipal Portfolio, and Bernstein Intermediate Duration Institutional Portfolio. The expected conversion dates are October 3, 2025, for California Municipal Portfolio and November 7, 2025, for New York Municipal Portfolio and Bernstein Intermediate Duration Institutional Portfolio. Investors will receive shares in the newly formed ETFs equivalent to the value of their current investments, with fractional shares being converted to cash. Stockholders are advised that the conversions do not require approval, but may have tax implications. The supplementary information will inform stockholders of the conversions and provide guidance on necessary actions for continuing to hold the new ETF shares based on their account types.

Form Type: 497

Filing Date: 2025-01-06

Corporate Action: Merger

Type: Update

Accession Number: 000091957425000107

Filing Summary: On January 6, 2025, AB Active ETFs, Inc. filed a supplement to the Information Statement/Prospectus regarding the reorganization of AB Total Return Bond Portfolio into AB Core Plus Bond ETF. This reorganization was approved by the Boards of Directors of the Funds during meetings held from November 5 to 7, 2024. The Funds previously notified shareholders of this conversion in a prospectus supplement dated November 8, 2024, and through an Information Statement/Prospectus dated December 18, 2024. The expected closing date for the conversion is set for February 7, 2025, while newly-issued shares of the AB Core Plus Bond ETF will be available for trading starting February 10, 2025. Key dates related to the conversion process include: the last day for purchase orders (January 31, 2025) and the last days for exchange and redemption orders (both February 6, 2025).