Nuveen Preferred and Income 2022 Term Fund Announces Preliminary Results of Tender Offer
18 Febrero 2022 - 6:00AM
Business Wire
Nuveen Preferred and Income 2022 Term Fund (NYSE: JPT) announced
the preliminary results of a tender offer.
As previously announced, the fund conducted a tender offer
allowing shareholders to offer up to 100% of their common shares
for repurchase for cash at a price per share equal to 100% of the
net asset value per share determined on the date the tender offer
expired. The tender offer expired on February 17, 2022 at 5:00 p.m.
Eastern time.
Based on preliminary information, 2,419,994 common shares were
tendered, representing approximately 35% of the fund’s common
shares outstanding. These figures do not include shares tendered
through notice of guaranteed delivery.
The completion of the fund’s tender offer is subject to certain
conditions, including that the aggregate net assets of the fund
must equal or exceed $70 million as of the expiration date of the
tender offer, taking into account the amounts that would be paid to
shareholders who have properly tendered their shares. If the fund’s
net assets after the tender offer would be less than $70 million,
the tender offer will not be completed and no common shares will be
repurchased.
The fund currently anticipates the satisfaction of all tender
offer conditions and a successful completion of the tender offer
and expects to announce the final results of the offer on February
24, 2022. Accordingly, the fund intends to implement the
restructuring described in the fund’s proxy statement dated October
20, 2021 and in the offer to purchase relating to the tender
offer.
Nuveen is a leading sponsor of closed-end funds (CEFs) with $66
billion of assets under management across 58 CEFs as of 31 December
2021. 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 30 years of experience managing
CEFs.
For more information, please visit Nuveen’s CEF homepage
www.nuveen.com/closed-end-funds or contact:
Financial Professionals: 800-752-8700
Investors: 800-257-8787
Media: media-inquiries@nuveen.com
About Nuveen
Nuveen, the investment manager of TIAA, offers a comprehensive
range of outcome-focused investment solutions designed to secure
the long-term financial goals of institutional and individual
investors. Nuveen has $1.3 trillion in assets under management as
of 31 Dec 2021 and operations in 27 countries. Its investment
specialists offer deep expertise across a comprehensive range of
traditional and alternative investments through a wide array of
vehicles and customized strategies. For more information, please
visit www.nuveen.com.
Nuveen Securities, LLC, member FINRA and SIPC.
The information contained on the Nuveen website is not a part of
this press release.
FORWARD-LOOKING STATEMENTS
Certain statements made in this release are forward-looking
statements. Actual future results or occurrences may differ
significantly from those anticipated in any forward-looking
statements due to numerous factors. These include, but are not
limited to:
• market developments;
• legal and regulatory developments;
• the satisfaction of conditions for completing the tender
offer; and
• other additional risks and uncertainties.
You should not place undue reliance on forward-looking
statements, which speak only as of the date they are made. Nuveen
and the closed-end funds managed by Nuveen and its affiliates
undertake no responsibility to update publicly or revise any
forward-looking statements.
The annual and semi-annual reports and other regulatory filings
of Nuveen closed-end funds with the Securities and Exchange
Commission (“SEC”) are accessible on the SEC’s web site at
www.sec.gov and on Nuveen’s web site at www.nuveen.com/cef and may
discuss the above-mentioned or other factors that affect Nuveen
closed-end funds.
EPS-2042694PR-E0222X
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version on businesswire.com: https://www.businesswire.com/news/home/20220218005089/en/
Financial Professionals: 800-752-8700 Investors: 800-257-8787
Media: media-inquiries@nuveen.com
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