BlackRock Municipal Income Fund, Inc. (MUI) Announces Tender Offer Contingent Upon Approval of Conversion of MUI to Unlisted Closed-End Interval Fund Structure
BlackRock Municipal Income Fund, Inc. (MUI)
US:NYSE Investor Relations:
blackrock.com/investing/products/240205/blackrock-muni-intermediate-duration-fund-inc-usd-fund
Company Research
Source: Business Wire
NEW YORK--(BUSINESS WIRE)--BlackRock Advisors, LLC (“BlackRock”) announced today that the Board of Directors (the “Board”) of BlackRock Municipal Income Fund, Inc. (NYSE: MUI, the “Fund”) has approved a tender offer to repurchase 50% of the Fund’s outstanding common shares at a price per share equal to 98% of the Fund’s net asset value per common share determined following the expiration of the tender offer (the “Tender Offer”). The Tender Offer is contingent on obtaining all approvals for the conversion of the Fund from an exchange-listed closed-end fund to an unlisted closed-end fund that conducts periodic repurchases of it shares pursuant to Rule 23c-3 under the Investment Company Act of 1940 (the “Conversion”) by December 31, 2024.It is currently expected that the Conversion will be completed in the second half of 2024, subject to, among other things: obtaining the requisite approvals from the Board and the Fund’s shareholders, and the redemption of the Fund’s preferred shares
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Sec Filings
- 5/23/24 - Form DEFA14A
- 5/20/24 - Form DEFR14A
- 5/13/24 - Form DEF
- MUI's page on the SEC website