M&A - Nuveen Preferred & Income Opportunities Fund

Form Type: N-14 8C

Filing Date: 2025-04-24

Corporate Action: Merger

Type: New

Accession Number: 000199937125004713

Filing Summary: The document details the proposed merger between Nuveen Preferred Securities & Income Opportunities Fund (the Target Fund) and Nuveen Preferred & Income Opportunities Fund (the Acquiring Fund). At the annual and special meetings of shareholders, the Funds' Boards will solicit votes on proposals including the approval of an Agreement and Plan of Merger. The merger aims to streamline Nuveen's closed-end fund lineup and is anticipated to provide common shareholders with benefits such as lower operating expenses, improved liquidity in the secondary market, and greater management flexibility. The document outlines the expected tax implications for shareholders, emphasizing that the merger will qualify as a 'reorganization' for tax purposes, allowing shareholders to recognize no gain or loss other than cash for fractional shares. Costs associated with the merger are projected to be around $950,000, with allocations based on the expected benefits. The document also discusses potential impacts on board elections and management continuity post-merger, including the timeline for implementation, which hinges on shareholder approvals and the satisfaction of customary closing conditions.