M&A - DUPREE MUTUAL FUNDS

Form Type: 497

Filing Date: 2025-04-22

Corporate Action: Merger

Type: New

Accession Number: 000119312525088313

Filing Summary: Dupree Mutual Funds has announced the reorganization of three of its Target Funds—Kentucky Tax-Free Short-to-Medium Series, Tennessee Tax-Free Short-to-Medium Series, and North Carolina Tax-Free Short-to-Medium Series—into corresponding Acquiring Funds—Kentucky Tax-Free Income Series, Tennessee Tax-Free Income Series, and North Carolina Tax-Free Income Series. This reorganization, approved by the Board of Trustees, is set to take place on or about May 16, 2025, and will not require shareholder approval. Each Target Fund will transfer its assets and liabilities to the respective Acquiring Fund and will distribute shares of the Acquiring Funds to its shareholders. The reorganization aims to achieve efficiencies of scale, lower expenses, and improved investment performance. The Board determined that the reorganization is in the best interest of the shareholders, highlighting that none would incur any taxes or additional fees as part of this process. This move is expected to enhance the combined funds' portfolio management and increase their ability to achieve strong performance through increased asset bases while maintaining similar investment strategies and risk profiles. Shareholders will not have to take any action or pay for the reorganization itself. Contact information is provided for further inquiries related to this transition.

Form Type: N-14

Filing Date: 2025-03-20

Corporate Action: Merger

Type: New

Accession Number: 000119312525058618

Filing Summary: DUPREE MUTUAL FUNDS is initiating a reorganization of its Kentucky Tax-Free Short-to-Medium Series, Tennessee Tax-Free Short-to-Medium Series, and North Carolina Tax-Free Short-to-Medium Series (collectively known as the 'Target Funds') into their corresponding Kentucky Tax-Free Income Series, Tennessee Tax-Free Income Series, and North Carolina Tax-Free Income Series (referred to as the 'Acquiring Funds'). The Board of Trustees approved this reorganization, which does not require shareholder approval. The reorganization aims to create larger Combined Funds that can achieve economies of scale, resulting in lower expenses and improved performance for shareholders. Upon completion, shareholders will receive Acquiring Fund shares equivalent in value to their Target Fund shares without any tax consequences or additional fees. The reorganization is set to take effect around May 16, 2025, with all Target Funds terminating as separate series.