M&A - NUVEEN SELECT TAX FREE INCOME PORTFOLIO
Form Type: N-14 8C
Filing Date: 2025-07-10
Corporate Action: Merger
Type: New
Accession Number: 000199937125008962
Filing Summary: Nuveen Select Tax-Free Income Portfolio filed a registration statement related to proposed reorganizations involving Nuveen California Select Tax-Free Income Portfolio and Nuveen New York Select Tax-Free Income Portfolio. The reorganizations will transfer all assets and liabilities of the Target Funds to the Acquiring Fund, which will issue new common shares to the shareholders of the Target Funds. This reorganization aims to streamline the fund line-up, reduce operating expenses, improve market liquidity, and increase management flexibility. Shareholder meetings are scheduled to approve the proposals, which also include the election of new board members. Important considerations include the tax implications of the reorganizations being structured to be tax-free for shareholders. Shareholders are being encouraged to vote on the proposals, with the Boards of each Fund recommending a positive vote based on perceived benefits. Costs associated with the reorganizations are estimated at $905,000 and will be borne by the funds.
Additional details:
Target Funds: Nuveen California Select Tax-Free Income Portfolio, Nuveen New York Select Tax-Free Income Portfolio
Acquiring Fund: Nuveen Select Tax-Free Income Portfolio
Reorganization Expected Date: on or about [●], 2025
Estimated Costs Of Reorganizations: $905,000
Expected Benefits: Lower operating expenses, improved market liquidity, and increased management flexibility
Tax Implications: The Reorganizations are intended to be tax-free for U.S. federal income tax purposes.
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