The Fund announced today additional details concerning the liquidation of the Fund. In accordance with its investment objectives and organizational documents, the Fund plans to terminate and liquidate on or about November 25, 2024 (the “Termination Date”). As the Fund prepares for its liquidation on the Termination Date, the Fund will deviate from its stated investment strategy and policies. The Fund’s investment objective is to seek a high current income and to return $9.835 per share (the original net asset value (“NAV”) per Common Share before deducting offering costs of $0.02 per share) (“Original NAV”) to common shareholders on the Termination Date. As previously disclosed, based on current market conditions, management anticipates that the Fund’s objective of returning the Original NAV to common shareholders on or about the Termination Date will not be met. The objective to return the Fund’s Original NAV is not an express or implied guarantee obligation of the Fund and is dependent on a number of factors.
The Fund’s common shares will continue trading on the New York Stock Exchange through November 20, 2024 and will be suspended from trading before the open of trading on November 21, 2024. The Fund anticipates making its final liquidating distribution on or about the Termination Date. Shareholders may recognize a gain or loss for U.S. tax purposes as a result of the liquidation of the Fund. BNY Investments does not provide tax advice; shareholders should consult a professional tax advisor regarding their specific tax situation.