on Abrdn U.S. Closed-End Funds (NASDAQ:ACP)
Abrdn Income Credit Strategies Fund Updates on Acquisition of Assets from First Trust/abrdn Global Opportunity Income Fund
The Board of Trustees of abrdn Income Credit Strategies Fund (NYSE:ACP) announced that shareholders of First Trust/abrdn Global Opportunity Income Fund (NYSE:FAM) have approved the reorganization into ACP. The process is targeted for completion before the end of September, pending customary closing conditions.
FAM shares will cease trading on the New York Stock Exchange on a date to be announced. Shareholders will receive newly issued ACP shares. As of July 25, 2024, the combined net assets of ACP will be approximately $830 million.
The reorganization aims to benefit shareholders by offering economies of scale, increased fund size, liquidity, and marketability, thus ensuring the fund's viability.
This update is for informational purposes only and does not constitute an offer to sell or buy securities. Closed-end funds' values fluctuate, and shares may trade above or below their net asset value. Past performance does not guarantee future results.
R. H.
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