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The Boards of Trustees of Nuveen Ohio Quality Municipal Income Fund (NYSE:NUO), Nuveen Georgia Quality Municipal Income Fund (NYSE:NKG), and Nuveen Municipal Credit Income Fund (NYSE:NZF) have approved a proposal to reorganize the funds. The proposed reorganizations, if approved by shareholders, would combine NUO and NKG into NZF. The reorganizations are intended to create a larger fund with lower operating expenses, enhanced earnings potential, and increased trading volume on the exchange for common shares.
The proposed reorganizations for the funds are subject to certain conditions, including necessary approval by the funds' shareholders. NUO and NZF will hold a Special Meeting of Shareholders to consider approval of the reorganization proposal on February 8, 2023. NKG will hold its 2023 Annual Meeting of Shareholders to consider approval of the reorganization proposal and to elect Board Members on February 8, 2023. Detailed information on the proposed reorganizations and the candidates for election to NKG's Board will be contained in proxy materials expected to be filed in the coming weeks.
To be considered for presentation at NKG's 2023 Annual Meeting of Shareholders, shareholder proposals submitted pursuant to Rule 14a-8 under the Securities Exchange Act of 1934 must be received at the offices of that fund, 333 West Wacker Drive, Chicago, Illinois 60606, no later than October 28, 2022. A shareholder wishing to provide notice in the manner prescribed by Rule 14a-4(c)(1) of a proposal submitted outside of the process of Rule 14a-8 for NKG's 2023 Annual Meeting of Shareholders must, pursuant to the fund's by-laws, submit such written notice to the fund no later than November 10, 2022. Timely submission of a proposal does not mean that such proposal will be included in a proxy statement.
Nuveen is a leading sponsor of closed-end funds (CEFs) with $57 billion of assets under management across 56 CEFs as of 30 Jun 2022. The funds offer exposure to a broad range of asset classes and are designed for income-focused investors seeking regular distributions. Nuveen has more than 35 years of experience managing CEFs.
