Eaton Vance Closed-End Fund Merger Complete
The merger between Eaton Vance Tax-Managed Buy-Write Strategy Fund (NYSE: EXD) and Eaton Vance Tax-Managed Buy-Write Opportunities Fund (NYSE: ETV) was completed on April 14, 2023. This decision followed shareholder approval of the Agreement and Plan of Reorganization obtained on March 16, 2023. The exchange ratio for the merger was set at 0.750447085, converting shares of EXD into shares of ETV based on the Funds' closing net assets on the merger date. Both funds are managed by Eaton Vance Management, a part of Morgan Stanley Investment Management. Investors are cautioned that shares may trade at a discount from their net asset value, and investing in these funds entails risks, including potential loss.
- None.
- Shares may trade at a discount from their net asset value.
- Investment risks could lead to a loss of principal invested.
The merger was based upon the Funds’ closing net assets on
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Exchange Ratio |
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0.750447085 |
EXD is a closed-end management investment company sponsored and managed by Eaton Vance Management. Eaton Vance Management is part of
Shares of closed-end funds often trade at a discount from their net asset value. The market price of Fund shares may vary from net asset value based on factors affecting the supply and demand for shares, such as Fund distribution rates relative to similar investments, investors’ expectations for future distribution changes, the clarity of the Fund’s investment strategy and future return expectations, and investors’ confidence in the underlying markets in which the Fund invests. Fund shares are subject to investment risk, including possible loss of principal invested.
Additional Information about the Funds
This press release is not intended to, and does not, constitute an offer to purchase or sell shares of the Funds; nor is this press release intended to solicit a proxy from any shareholder of the Funds.
Fund shares are subject to investment risk, including possible loss of principal invested.
Statements in this press release that are not historical facts are forward-looking statements as defined by the
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Investors: (800) 262-1122
Source: Eaton Vance
FAQ
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