M&A - PIONEER MUNICIPAL HIGH INCOME ADVANTAGE FUND, INC.

Form Type: DEFC14A

Filing Date: 2025-02-11

Corporate Action: Merger

Type: New

Accession Number: 000182126825000058

Filing Summary: The document outlines a special meeting scheduled for March 26, 2025, for stockholders of Pioneer Municipal High Income Advantage Fund, Inc. to vote on a new investment advisory agreement with Victory Capital Management Inc., arising from a merger deal between Amundi and Victory Holdings. This proposal is essential as the current investment advisory agreement with Amundi will automatically terminate upon the completion of the merger. The new agreement aims to ensure continuity in management and investment strategies, with the advisory fee rate remaining the same post-merger. There is a noted opposition expected from Saba Capital Management, which could disrupt operations and potentially leave the Funds without an adviser if the proposal is not approved. The shareholders are strongly encouraged to vote 'FOR' the new advisory agreement to counter Saba's potential disruption.

Form Type: PREC14A

Filing Date: 2025-01-29

Corporate Action: Merger

Type: New

Accession Number: 000182126825000022

Filing Summary: A Special Meeting of Stockholders for Pioneer Municipal High Income Advantage Fund, Inc. and its affiliated funds is scheduled for March 26, 2025, to vote on approving a new investment advisory agreement with Victory Capital Management Inc. This is a result of a merger transaction between Amundi Holdings and Victory Capital. Following the merger, the current investment adviser, Amundi Asset Management US, Inc., will be succeeded by Victory Capital. The current portfolio managers are expected to remain unchanged and manage the funds as part of a Victory Capital investment franchise. The advisory fee rates will remain the same post-transition. The document stresses the importance of stockholder votes due to a potential campaign against the approval led by Saba Capital Management, which might disrupt fund operations and could lead to changes that affect long-term investors. The voting deadline is March 25, 2025, and proxies are encouraged to be submitted promptly to avoid issues with competing solicitations.

Form Type: PREC14A

Filing Date: 2025-01-24

Corporate Action: Merger

Type: New

Accession Number: 000090266425000467

Filing Summary: Pioneer Municipal High Income Advantage Fund, Inc. has filed a preliminary proxy statement in connection with a proposed reorganization of the Fund into a new fund advised by Victory Capital Management Inc. This follows an announcement by the current investment adviser, Amundi Asset Management US, Inc., regarding a definitive agreement to combine with Victory Capital. Saba Capital Management, L.P. and Boaz R. Weinstein are soliciting proxies from shareholders to oppose this reorganization, which they believe fails to provide shareholders with an exit option at net asset value (NAV). They encourage shareholders to vote against the reorganization proposal at the upcoming special meeting, whose date has yet to be disclosed. Saba Capital holds a significant number of shares and intends to vote all of its shares against the proposal. The approval requires at least a three-quarters affirmative vote from shareholders. Saba has emphasized the lack of options for shareholders and insists on the necessity for the ability to exit at NAV.