First Trust Advisors L.P. announced that the reorganization of First Trust Specialty Finance and Financial Opportunities Fund (NYSE: FGB) into FT Confluence BDC & Specialty Finance Income ETF (NYSE Arca: FBDC) is expected to become effective immediately before the NYSE opens on June 30, 2025. This reorganization, which has received shareholder approval, involves the transfer of FGB's assets to and the assumption of its liabilities by FBDC. Shareholders of FGB will receive shares of FBDC equivalent to the net asset value of their current holdings in FGB. The reorganization is anticipated to be tax-free.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.