HYB New America High Income Fund Inc

 

United States
Securities and Exchange Commission

 

Washington, D.C. 20549

 

Form 8-K

 

Current Report

 

Pursuant to Section 13 or 15(D) of
the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported) August 8, 2024

 

______________________________

 

The New America High Income Fund Inc.
(Exact name of registrant as specified in its charter)

 

Maryland	811-05399	04-2995419
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)
33 Broad Street Boston, Massachusetts		02109
(Address of principal executive offices)		(Zip Code)

 

Registrant’s telephone number, including area code 617-263-6400

 

(Former name or former address, if changed since last report.)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock	HYB	New York Stock Exchange

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).                            Emerging growth company ¨

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.                                                         ¨

 

 

Item 7.01

Regulation FD Disclosure

 

The New America High Income Fund Inc. (the “Fund”) is filing herewith a press release issued on August 8, 2024, as Exhibit 99.1. The press release was issued by the Fund to announce that (1) the Fund’s Board of Directors has approved a proposal to reorganize the Fund into the T. Rowe Price High Yield Fund, a separate series of the T. Rowe Price High Yield Fund, Inc. and (2) the Fund has entered into a standstill agreement with Saba Capital Management, L.P. Details regarding these items are contained in the press release.

 

 

Item 9.01

Financial Statements and Exhibits

 

(d)

Exhibits

 

Exhibit Number		Description
99.1		Press Release, dated August 8, 2024.

 

Signatures

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

	The New America High Income Fund Inc.
	(Registrant)
Date August 8, 2024	/s/ Ellen E. Terry
	Name:	Ellen E. Terry
	Title:	President and Secretary

 

 

Exhibit Index

 

Exhibit Number		Description
99.1		Press Release, dated August 8, 2024.

 

 

 

 

Exhibit 99.1

 

The New America High Income Fund, Inc.
Announces Proposed Reorganization and Agreement
with Saba Capital

 

Boston, Massachusetts, August 8, 2024 – The New America High Income Fund, Inc. (the “Fund”) (NYSE: HYB) announced today that the Fund’s Board of Directors has approved a proposal to reorganize the Fund into the T. Rowe Price High Yield Fund, a separate series of the T. Rowe Price High Yield Fund, Inc. The reorganization is subject to approval by Fund shareholders, who will be asked to vote on the proposal at the Fund’s Annual Meeting of Shareholders expected to take place in November 2024 (the “Meeting”).

 

Important information about the proposed reorganization and the Meeting will be provided to shareholders of record as of the record date in a combined proxy statement and prospectus that is expected to be mailed in the third or fourth quarter of 2024. Shareholders are advised to read the combined proxy statement and prospectus when it is available. When filed with the U.S. Securities and Exchange Commission (“SEC”), the combined proxy statement and prospectus as well as other documents about the Fund will be available free of charge on the SEC website, www.sec.gov. Copies of the combined proxy statement and prospectus will also be mailed to each Fund shareholder of record as of the record date.

 

The Fund also announced today that it has entered into a standstill agreement with Saba Capital Management, L.P. (together with certain of its affiliates, “Saba”) pursuant to which the Board agreed to use reasonable efforts to cause shareholders of the Fund to approve the reorganization and Saba agreed to irrevocably withdraw the notice of its intent to nominate persons for election at the Meeting and vote in favor of the reorganization and the election of directors. The Fund has been advised that Saba will file a copy of the agreement with the SEC as an exhibit to its Schedule 13D.

 

About the Fund

 

The New America High Income Fund, Inc. is a diversified, closed-end management investment company with a leveraged capital structure. The Fund’s investment adviser is T. Rowe Price Associates, Inc. (“T. Rowe Price”). As of June 30, 2024, T. Rowe Price and its affiliates managed approximately $1.6 trillion of assets. T. Rowe Price has provided investment advisory services to investment companies since 1937.

 

This press release is for informational purposes only and is not intended to, and does not, constitute an offer to purchase or sell shares of the Fund. Additional information about the Fund, including performance and portfolio characteristic information, is available at www.newamerica-hyb.com.

 

Statements in this press release that are not historical facts may be forward-looking statements, as defined by the U.S. securities laws. You should exercise caution in interpreting and relying on forward-looking statements because they are subject to uncertainties and other factors that may be beyond the Fund’s control and could cause actual results to differ materially from those set forth in the forward-looking statements.

 

 

v3.24.2.u1

Cover	Aug. 08, 2024
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Aug. 08, 2024
Entity File Number	811-05399
Entity Registrant Name	The New America High Income Fund Inc.
Entity Central Index Key	0000825345
Entity Tax Identification Number	04-2995419
Entity Incorporation, State or Country Code	MD
Entity Address, Address Line One	33 Broad Street
Entity Address, City or Town	Boston
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02109
City Area Code	617
Local Phone Number	263-6400
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock
Trading Symbol	HYB
Security Exchange Name	NYSE
Entity Emerging Growth Company	false

---